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Torchmark Announces Public Offering of $120,000,000 of Trust Preferred Securities
Torchmark Corporation (NYSE: TMK) announced today that subject to market and other conditions, it is offering 4,800,000 trust preferred securities with an aggregate liquidation amount of $120,000,000. Each trust preferred security will have a stated liquidation amount of $25 and will represent a beneficial interest in the assets of Torchmark Capital Trust III.
Merrill Lynch, Pierce, Fenner & Smith Incorporated, UBS Investment Bank and Wachovia Securities are acting as joint book-running managers for the public offering of the trust preferred securities.
This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the securities nor shall there be any sale of these securities in any state in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state. The offering of securities may be made only by means of a prospectus supplement and accompanying prospectus (collectively, the "Prospectus") which is part of a registration statement that Torchmark Corporation filed with the SEC utilizing a "shelf" registration process.
Copies of the Prospectus can be obtained from: Merrill Lynch, Pierce, Fenner & Smith Incorporated 4 World Financial Center New York, New York 10080 1-800-500-5408 UBS Investment Bank Attention: Fixed Income Syndicate 677 Washington Blvd. Stamford, Connecticut 06901 203-719-1088 Wachovia Capital Markets, LLC 8739 Research Drive Charlotte, North Carolina 28262 1-800-326-5897
Torchmark Corporation is a holding company specializing in life and supplemental health insurance for "middle income" Americans marketed through multiple distribution channels including direct response, and exclusive and independent agencies.
SOURCE: Torchmark Corporation
CONTACT: Joyce Lane, Vice President, Investor Relations of Torchmark
Web site: http://www.torchmarkcorp.com/
Company News On-Call: http://www.prnewswire.com/comp/885425.html
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