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Torchmark Corp., 5.875% Junior Subordinated Debentures due 12/15/2052
Ticker Symbol: TMK-B* CUSIP: 891027302 Exchange: NYSE
* NOTE: This security is no longer trading as of 12/22/2017
Security has been Called for: Friday, December 22, 2017
Dec 1, 2017 -- Torchmark Corporation will redeem all of its outstanding 5.875% Junior Subordinated Debentures due 2052 on December 22, 2017. There are $125,000,000 principal amount of the debentures currently outstanding. The redemption price will be the liquidation amount of $25.00 per debenture, plus accumulated but unpaid distributions to the redemption date of $0.028559028 per security, for a total payment of $25.028559028 per security. Because all the debentures are held through the Book-Entry Only Issuance System at The Depository Trust Company (DTC), holders are notified by DTC.
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QUANTUMONLINE.COM SECURITY DESCRIPTION: Torchmark Corp, 5.875% Junior Subordinated Debentures due 2052, issued in $25 denominations, redeemable at the issuer's option on or after 12/15/2017 at $25 per share plus accrued and unpaid interest, and maturing 12/15/2052. Interest distributions of 5.875% per annum ($1.46875 per annum or $0.3671875 per quarter) will be paid quarterly on 3/15, 6/15, 9/15 & 12/15 to holders of record on the record date that will be 3/1, 6/1, 9/1 & 12/1 respectively (NOTE: the ex-dividend date is at least 2 business days prior to the record date). The company may redeem the debentures, in whole but not in part, at any time prior to December 15, 2017, within 90 days of the occurrence of a tax event at a redemption price equal to $26 per $25 in principal amount of debentures being redeemed, plus accrued and unpaid interest to, but excluding, the date of redemption. So long as no event of default with respect to the debentures has occurred and is continuing, we have the right, on one or more occasions, to defer the payment of interest on the debentures for up to five consecutive years without giving rise to an event of default. Distributions paid by these debt securities are interest and as such are NOT eligible for the preferential 15% to 20% tax rate on dividends and are also NOT eligible for the dividend received deduction for corporate holders. Units are expected to trade flat, which means accrued interest will be reflected in the trading price and the purchasers will not pay and the sellers will not receive any accrued and unpaid interest. The Notes are unsecured and junior subordinated obligations of the company and will rank junior to all existing and future unsecured senior indebtedness of the company. See the IPO prospectus for further information on the debt securities by clicking on the ‘Link to IPO Prospectus’ provided below.
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Go to Parent Company's Record (GL)
IPO - 9/18/2012 - 5.00 Million Notes @ $25.00 /note.
Link to IPO Prospectus
Market Value $125.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 3700 South Stonebridge Drive, McKinney, TX 75070 |
| Main Phone Number |
972-569-4000 |
| Fax Number |
972-569-3282 |
| Investor Relations
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972-569-3239
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Toll Free Phone Number |
Unknown |
| CEO - Larry M. Hutchison |
CEO - Gary L. Coleman |
CFO - Frank M. Svoboda |
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