Horace Mann Educators Corporation announced the pricing of $300 million aggregate principal amount of 4.700% Senior Notes due 2030. The transaction is expected to close on September 26, 2025, subject to customary closing conditions.
The company intends to use the net proceeds from the issuance for general corporate purposes, including the repayment of its existing 4.50% Senior Notes due 2025. This move helps manage the company's debt maturity profile and capital structure.
In connection with this issuance, AM Best assigned a Long-Term Issue Credit Rating of 'bbb' (Good) to the new senior unsecured notes, with a stable outlook. This rating reflects the creditworthiness of the new debt instrument.
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