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Unum Group Announces the Early Tender Results of its Cash Tender Offer for Certain Outstanding Debt Securities

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CHATTANOOGA, Tenn.–(BUSINESS WIRE)–Unum Group (NYSE: UNM) (the “Company”) today announced that, pursuant to its previously announced tender offer (the “Offer”) to purchase for cash up to the aggregate liquidation amount of the 7.405% Capital Securities due March 15, 2038 (the “Capital Securities”), issued by Provident Financing Trust I, a wholly-owned subsidiary of the Company, the aggregate principal amount of the Company’s 7.19% Senior Notes due February 1, 2028 (the “7.19% Notes”), the aggregate principal amount of the Company’s 7.25% Senior Notes due March 15, 2028 (the “7.25% Notes”), the aggregate principal amount of the Company’s 6.75% Senior Notes due December 15, 2028 (the “6.75% Notes”), and the aggregate principal amount of the Company’s 3.00% Senior Notes due May 15, 2021 (the “3.00% Notes”, and together with the 7.19% Notes, the 7.25% Notes and the 6.75% Notes, the “Notes” and the Notes, together with the Capital Securities, collectively, the “Securities”, and each a “series” of Securities) that the Company can purchase for a combined aggregate purchase price of up to $450 million (excluding accrued and unpaid distributions and interest up to, but not including, the applicable settlement date and excluding fees and expenses related to the Offer) (the “Maximum Tender Amount”) and, in the case of the Capital Securities, the 7.19% Notes, the 7.25% Notes and the 6.75% Notes (collectively, the “Capped Securities”), subject to a combined aggregate purchase price not to exceed $100 million (the “Capped Securities Purchase Limit”), approximately $510.6 million in aggregate liquidation or principal amount of Securities were validly tendered and not validly withdrawn at or prior to 5:00 p.m., New York City time, on September 17, 2019 (the “Early Tender Deadline”). The terms and conditions of the Offer are described in the Offer to Purchase, dated September 4, 2019 (as amended, the “Offer to Purchase”), and the related Letter of Transmittal (the “Letter of Transmittal”).

The following table sets forth certain information regarding the Securities and the Offer, including the aggregate principal amount of each series of Securities that was validly tendered and not validly withdrawn at or prior to the Early Tender Deadline:

Title of

Security

CUSIP

Number

Principal

Amount

Outstanding

Capped Securities Purchase Limit(1)

Reference

U.S.

Treasury

Security(2)

Bloomberg

Reference

Page(3)

Acceptance

Priority

Level

Aggregate Liquidation/Principal Amount Tendered

7.405% Capital Securities due 2038(1)

743863AA0

$226,500,000

$100,000,000

N/A

N/A

1

$20,172,000

7.19% Senior Notes due 2028(1)

90313QAQ8

$48,780,000

1.625% UST due 08/15/29

FIT1

2

$30,343,000

7.25% Senior Notes due 2028(1)

743862AA2

$200,000,000

1.625% UST due 08/15/29

FIT1

3

$121,189,000

6.75% Senior Notes due 2028(1)

903192AA0

$165,844,000

1.625% UST due 08/15/29

FIT1

4

$82,929,000

3.00% Senior Notes due 2021

91529YAM8

$350,000,000

N/A

2.625% UST due 5/15/21

FIT4

5

$255,958,000

(1) The Capped Securities Purchase Limit for the Capped Securities represents the combined aggregate purchase price of the Capped Securities that will be purchased in the Offer.

(2) The Reference Yields of the Reference U.S. Treasury Securities will be determined by the Joint Dealer Managers (as defined below) based on certain quotes available at 10:00 a.m., New York City time, on September 18, 2019, except for the Capital Securities. The consideration for the Capital Securities is $1,175.00 for each $1,000 liquidation amount of Capital Securities validly tendered and accepted for purchase pursuant to the Offer.

(3) The applicable page on Bloomberg from which the Joint Dealer Managers will quote the bid side prices of the applicable U.S. Treasury Security. In the above table, “UST” denotes a U.S. Treasury Security.

N/A Not applicable.

As previously announced, the Total Consideration (as defined in the Offer to Purchase) for each series of Securities will be determined at 10:00 a.m., New York City time, on September 18, 2019, as described in the Offer to Purchase and the Letter of Transmittal. Subject to acceptance of their Securities by the Company, holders of Securities validly tendered and not validly withdrawn at or prior to the Early Tender Deadline will be eligible to receive the Total Consideration, which includes an early tender premium of $30.00 per $1,000 liquidation or principal amount of Securities validly tendered by such holders and accepted for purchase by the Company. Accrued and unpaid distributions or interest up to, but not including, the Early Settlement Date (as defined below) will be paid in cash on the Securities accepted for purchase by the Company. The liquidation or principal amount of each series of Securities that will be accepted for purchase by the Company and the proration factor will be announced following the determination of the Total Consideration.

The settlement date for the Securities accepted by the Company in connection with the Early Tender Deadline is expected to be September 19, 2019 (the “Early Settlement Date”).

Pursuant to the terms of the Offer, the Withdrawal Deadline (as defined in the Offer to Purchase) expired at 5:00 p.m., New York City time, on September 17, 2019. As a result, tendered Securities may no longer be withdrawn, except where required by law.

The Company has determined that the Financing Condition (as defined in the Offer to Purchase) has been satisfied as a result of the Company’s offering and sale of $450 million aggregate principal amount of its 4.500% Senior Notes due 2049 on September 11, 2019.

The Company reserves the absolute right, subject to applicable law, to: (i) waive any and all conditions to the Offer; (ii) extend or terminate the Offer; (iii) increase or decrease the Maximum Tender Amount and/or increase, decrease or eliminate the Capped Securities Purchase Limit without extending the Early Tender Deadline or Withdrawal Deadline; or (iv) otherwise amend the Offer in any respect.

Information Relating to the Offer

HSBC Securities (USA) Inc., BofA Merrill Lynch, Goldman Sachs & Co. LLC and Wells Fargo Securities, LLC are acting as the joint dealer managers for the Offer (the “Joint Dealer Managers”). The information agent and tender agent for the Offer is D.F. King & Co., Inc. Copies of the Offer to Purchase, Letter of Transmittal and related offering materials are available by contacting D.F. King & Co., Inc. at (866) 796-6867 (toll-free), (212) 269-5550 (banks and brokers) or by email at unum@dfking.com. Questions regarding the Offer should be directed to HSBC Securities (USA) Inc., at (212) 525-5552 (collect), (866) HSBC-4LM (toll-free) or + 011 44 (0) 20 7992 6237 (Europe), BofA Merrill Lynch at (980) 386-6026 (collect) or (888) 292-0070 (toll-free), Goldman Sachs & Co. LLC at (212) 357-1452 (collect) or (800) 828-3182 (toll-free) or Wells Fargo Securities, LLC, at (704) 410-4756 (collect) or (866) 309-6316 (toll-free).

This news release shall not constitute an offer to sell, a solicitation to buy or an offer to purchase or sell any securities. The Offer is being made only pursuant to the Offer to Purchase and only in such jurisdictions as is permitted under applicable law.

ABOUT UNUM

Unum Group (www.unum.com) is a leading provider of financial protection benefits in the United States and the United Kingdom and the leading provider of disability income protection in the world. Its primary businesses are Unum US, Colonial Life, Unum UK, and Unum Poland. Unum’s portfolio includes disability, life, accident and critical illness, dental and vision coverage, which help protect millions of working people and their families in the event of an illness or injury. Unum also provides stop-loss coverage to help self-insured employers protect against unanticipated medical costs. The company reported revenues of $11.6 billion in 2018, and provided $7.2 billion in benefits.

For more information visit us at www.unum.com or connect with us at www.facebook.com/unumbenefits, twitter.com/unumnews and www.linkedin.com/company/unum.

SAFE HARBOR STATEMENT

Certain information in this news release constitutes “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements are those not based on historical information, but rather relate to our outlook, future operations, strategies, financial results, or other developments and speak only as of the date made. These forward-looking statements, including statements about the use of proceeds, are subject to numerous assumptions, risks, and uncertainties, many of which are beyond our control. The following factors, in addition to other factors mentioned from time to time, may cause actual results to differ materially from those contemplated by the forward-looking statements: (1) sustained periods of low interest rates; (2) fluctuation in insurance reserve liabilities and claim payments due to changes in claim incidence, recovery rates, mortality and morbidity rates, and policy benefit offsets due to, among other factors, the rate of unemployment and consumer confidence, the emergence of new diseases, epidemics, or pandemics, new trends and developments in medical treatments, the effectiveness of our claims operational processes, and changes in governmental programs; (3) unfavorable economic or business conditions, both domestic and foreign, that may result in decreases in sales, premiums, or persistency, as well as unfavorable claims activity; (4) changes in or interpretations of laws and regulations, including tax laws and regulations; (5) a cyber attack or other security breach could result in the unauthorized acquisition of confidential data; (6) the failure of our business recovery and incident management processes to resume our business operations in the event of a natural catastrophe, cyber attack, or other event; (7) investment results, including, but not limited to, changes in interest rates, defaults, changes in credit spreads, impairments, and the lack of appropriate investments in the market which can be acquired to match our liabilities; (8) increased competition from other insurers and financial services companies due to industry consolidation, new entrants to our markets, or other factors; (9) changes in our financial strength and credit ratings; (10) our ability to execute on our technology systems upgrades or replacements; (11) damage to our reputation due to, among other factors, regulatory investigations, legal proceedings, external events, and/or inadequate or failed internal controls and procedures; (12) actual experience in the broad array of our products that deviates from our assumptions used in pricing, underwriting, and reserving; (13) changes in accounting standards, practices, or policies; (14) effectiveness of our risk management program; (15) contingencies and the level and results of litigation; (16) availability of reinsurance in the market and the ability of our reinsurers to meet their obligations to us; (17) ineffectiveness of our derivatives hedging programs due to changes in the economic environment, counterparty risk, ratings downgrades, capital market volatility, changes in interest rates, and/or regulation; (18) fluctuation in foreign currency exchange rates; (19) ability to generate sufficient internal liquidity and/or obtain external financing; (20) recoverability and/or realization of the carrying value of our intangible assets, long-lived assets, and deferred tax assets; and (21) terrorism, both within the U.S. and abroad, ongoing military actions, and heightened security measures in response to these types of threats.

For further discussion of risks and uncertainties which could cause actual results to differ from those contained in the forward-looking statements, see Part 1, Item 1A “Risk Factors” of our annual report on Form 10-K for the year ended December 31, 2018 and our subsequently filed quarterly reports on Form 10-Q. The forward-looking statements in this news release are being made as of the date of this news release, and we expressly disclaim any obligation to update or revise any forward-looking statement contained herein, even if made available on our website or otherwise.

Contacts

INVESTORS

Tom White 423-294-8996

MEDIA

Kelly Spencer 423-294-4508

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Business Wire

Denodo Announces DataFest 2019 in London: Third Annual Conference in Europe for Data Professionals Provides Valuable Insights on Machine Learning, Cloud and Advanced Analytics

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Conference welcomes hundreds of data enthusiasts, customers, partners and subject matter experts to discuss the future of data management in the digital age. The event can be attended in person or online by connecting to the live stream.

LONDON–(BUSINESS WIRE)–#AIDenodo, the leader in data virtualization, announced its 3rd annual user conference in Europe, Denodo DataFest, on 23rd October in London. In this conference, attendees will learn strategies on how to leverage data virtualization to enable highly flexible, agile, and powerful BI architectures that are paving the way to multi-cloud adoption. The event can be attended in person or online by connecting to the live stream.

“I am looking forward to speaking at the Denodo DataFest 2019 user conference and am excited to share how we are using data virtualization to enable self-service BI for business users at Festo,” said Diethard Frank, IT Product Manager, Big Data & AI Services at Festo. “I’m excited to share our experience and lessons learned that will hopefully help other organizations think about how to leverage modern technology approaches to truly innovate and uncover hidden value from their data.”

Through this immersive conference, Denodo is bringing together visionary leaders and technical experts to help redefine how data is reshaping the modern enterprise and driving digital business.

“Today, businesses need a holistic view of data across the enterprise from all data sources—on premises, in the cloud, and streaming—to gain deeper insights into customers, new market opportunities, and competition,” said Ravi Shankar, Sr. Vice President and Chief Marketing Officer at Denodo. “Business success demands agile, real-time data integration—to accelerate the time-to-results, and hence the time-to-revenue. DataFest brings together some of our most trusted customers, partners, and industry thought leaders to help address these critical challenges, while setting the course for the future of data driven intelligence.”

Sessions will feature actionable insight from analyst Rick van der Lans and partners including Wipro, Square IT Services, UST Global, HCL and others who will participate in panel discussions. Attendees will also hear real world insights from Festo, NHS Scotland, St. James’s Place and Landsbankinn, to name a few, who will share how they leveraged data virtualization to enable enhanced analytics and agility.

“Organizations moving towards cloud and migrating Personnel Identification Information (PII) and other sensitive and critical enterprise information will face challenges. Data services best practices will help resolve most of these pain points,” said Rajat Sinha, Senior Director Alliances, Wipro Limited. “I am excited to talk about our partnership with Denodo for modern data virtualization solutions that will enable companies to gain maximum benefits from cloud initiatives in form of agility and cost savings.”

“At UST Global, we help our Fortune 500 customers get insightful, actionable and explainable insights which drive business outcomes at speed, by integrating data engineering and engineering analytics,” said Niranjan Ram, CTO of UST Global. “As a trusted Denodo partner, we look forward to presenting a practitioner’s perspective, focusing on the challenges of managing a data science pipeline and improving productivity of our data scientists.”

“Denodo DataFest is the ideal event for everybody interested in data virtualization, data management and data architecture. It’s always a pleasure to be there and exchange knowledge with the people from Denodo and all their customers and partners,” said Bas van der Peet, Business Unit Manager at Axians.

Please Tweet: Attend #DenodoDataFest on 23rd Oct to learn how #datavirtualization can support the journey to #cloudcomputing #multicloudadoption #machinelearning #AI #analytics. Register: https://www.denododatafest.com/EMEA

About Denodo

Denodo is the leader in data virtualization providing agile, high performance data integration, data abstraction, and real-time data services across the broadest range of enterprise, cloud, big data, and unstructured data sources at half the cost of traditional approaches. Denodo’s customers across every major industry have gained significant business agility and ROI by enabling faster and easier access to unified business information for agile BI, big data analytics, Web, and cloud integration, single-view applications, and enterprise data services. Denodo is well-funded, profitable, and privately held. For more information, visit www.denodo.com or call +1 877 556 2531 / +44 (0) 20 7869 8053.

Contacts

Gemma Rowlan

+44 (0) 20 7608 8359

gemma.rowlan@hotwireglobal.com

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Dale Robinson Appointed Chief Operating Officer of HealthTrust Europe

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BIRMINGHAM, England–(BUSINESS WIRE)–HealthTrust Europe, a trusted group purchasing organisation and supply chain partner for healthcare providers, announced the appointment of Dale Robinson as chief operating officer. Robinson will lead the strategic direction of the group purchasing organisation and oversee programmes to further integrate providers and suppliers in advancing clinical excellence.

“With years of success working with the National Health Service (NHS), Dale brings a unique perspective to broaden our engagement with providers across the UK,” stated Ed Jones, president and CEO of HealthTrust. “He will lead a team of supply chain professionals focused on improving service offerings across public and private sector Trusts, hospitals, and outpatient treatment and diagnostic centres thereby strengthening their ability to serve patients and communities.”

HealthTrust Europe manages over £1 billion of healthcare spend in the UK, negotiating superior value and terms on behalf of member organisations which include more than 280 public and private acute care hospitals and non-acute sites of care.

A qualified solicitor, Robinson joined HealthTrust Europe as a legal adviser in 2012 specialising in public procurement law. He has played an instrumental role in the expansion of the company’s UK operation including serving as vice president of operations, and chief legal and ethics officer.

About HealthTrust Europe

HealthTrust Europe is committed to strengthening provider performance and clinical excellence through an aligned membership model and the delivery of total spend management advisory solutions that leverage our operator experience, scale and innovation. HealthTrust Europe operates as the UK arm of HealthTrust, one of the leading healthcare improvement organisations in the United States representing over 1,600 hospitals and managing $42 billion of contracted spend annually. An affiliate of HCA Healthcare, HealthTrust Europe is committed to supporting the delivery of compassionate, efficient, quality and patient-focused healthcare in the communities we serve. For more information, visit http://www.healthtrusteurope.com.

About HCA Healthcare

Nashville, Tennessee-based HCA Healthcare is one of the leading providers of healthcare services in the U.S., comprised of 184 hospitals and approximately 2,000 sites of care, including surgery centers, freestanding ERs, urgent care centers, and physician clinics, in 21 states and the United Kingdom. With its founding in 1968, HCA Healthcare created a new model for hospital care in the United States, using combined resources to strengthen hospitals, deliver patient-focused care and improve the practice of medicine. HCA Healthcare is a learning healthcare system that uses its more than 31 million annual patient encounters to advance science, improve patient care and save lives.

Contacts

Vivek Jain

+44 (0) 7887 961 549

vivek.jain@htepg.com

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HID Global Completes Acquisition of De La Rue’s Citizen Identity Business

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AUSTIN, Texas–(BUSINESS WIRE)–#HID–HID Global®, a worldwide leader in trusted identity solutions, today announced that it has completed the acquisition of the international identity solutions business of De La Rue (LSE:DLAR), the world’s largest commercial issuer of banknotes and passports. The De La Rue business will be merged with HID’s citizen identity solutions portfolio, broadening HID Global’s leadership position, extending its capabilities to scale and assemble government-issued citizen IDs, and expanding the value delivered to customers.

HID Global and the De La Rue international identity solutions business share the common goal of helping governments fulfill their e-government initiatives today and in the future by converging physical and digital identities to increase efficiency, security and flexibility,” said Stefan Widing, President and CEO, HID Global. “The acquisition sets the stage for HID to leverage the decades-long relationships De La Rue has had as a prime citizen ID supplier providing HID’s innovative solutions to governments seeking to modernize. From making it possible for citizens to use mobile IDs with their smartphones in everyday life to providing travelers with a more secure and convenient passport for border crossing, HID is transforming the citizen experience.”

Today, HID Global’s citizen identification solutions can be found in sixty percent of all government-issued electronic identity projects around the world. HID delivers complete, end-to-end system solutions that meet governmental requirements for national IDs, passports, foreign resident IDs, driver licenses, vehicle registration and other programs.

De La Rue’s direct relationships with ministries of the interior, immigration departments, police departments, and numerous other government entities/agencies will enhance HID’s ability to provide customers with a broader suite of offerings that include mobile IDs, automated verification capabilities, and e-passports with advanced physical and electronic security features.

The addition of the De La Rue citizen ID business also extends HID’s capabilities to assemble secure ID documents from end to end in world-class facilities. It will create new opportunities to apply its design excellence, data analysis services/consultancy, and proven software and systems–including civil registry and vital statistics (CRVS)–to HID’s citizen ID portfolio.

To learn more about the HID Global’s citizen identification offerings, please click here.

About De La Rue

De La Rue’s purpose is to enable every citizen to participate securely in the global economy. As a trusted partner of governments, central banks and commercial organisations, De La Rue provides products and services that underpin the integrity of trade, personal identity and the movement of goods. As the world’s largest designer and commercial printer of banknotes, De La Rue designs, manufactures and delivers banknotes, banknote substrates and security features to customers in a world where currency will continue to be a key part of the developing payments eco-system. De La Rue is the only integrated supplier of both paper and polymer banknotes, and creates security features that ensure banknotes are protected against counterfeiting. De La Rue is the world’s largest commercial designer and printer of passports, delivering national and international identity tokens and software solutions for governments in a world that is increasingly focused on the importance of a legal and secure identity for every individual. De La Rue also creates and delivers secure product identifiers and ‘track and trace’ software for governments and commercial customers alike to help to tackle the challenge of illicit or counterfeit goods and the collection of revenue and excise duties. De La Rue is listed on the London Stock Exchange (LSE:DLAR). For further information visit www.delarue.com

About HID Global

HID Global powers the trusted identities of the world’s people, places and things. We make it possible for people to transact safely, work productively and travel freely. Our trusted identity solutions give people convenient access to physical and digital places and connect things that can be identified, verified and tracked digitally. Millions of people around the world use HID products and services to navigate their everyday lives, and over 2 billion things are connected through HID technology. We work with governments, educational institutions, hospitals, financial institutions, industrial businesses and some of the most innovative companies on the planet. Headquartered in Austin, Texas, HID Global has over 3,000 employees worldwide and operates international offices that support more than 100 countries. HID Global® is an ASSA ABLOY Group brand. For more information, visit www.hidglobal.com.

© 2019 HID Global Corporation/ASSA ABLOY AB. All rights reserved. HID, HID Global, the HID Blue Brick, the logo, and the Chain Design are trademarks or registered trademarks of HID Global, ASSA ABLOY AB, or its affiliates(s) in the US and other countries and may not be used without permission. All other trademarks, service marks, and product or service names are trademarks or registered trademarks of their respective owners.

Contacts

Leah Washington

lwashington@hidglobal.com

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