Globe Life said it completed the issuance and sale of $450,000,000 aggregate principal amount of its 5.850% Senior Notes due 2034 on August 23, 2024, at a price to the public of 99.799%.

1. 01

   Globe Life said it completed the issuance and sale of $450,000,000 aggregate principal amount of its 5.850% Senior Notes due 2034 on August 23, 2024, at a price to the public of 99.799%.

2. 02

   The company said the estimated net proceeds, after deducting the underwriting discount and estimated offering expenses, are $444.6 million. It plans to use the proceeds for general corporate purposes, which may include open market purchases of its common stock, additional capital investments in its insurance subsidiaries, additional holding company liquidity and repayment of a portion of its commercial paper.

3. 03

   The company said the Notes bear interest at 5.850% per year, accruing from August 23, 2024, and are payable semi-annually in arrears on March 15 and September 15 of each year, with the first payment on March 15, 2025. The Notes mature on September 15, 2034.

4. 04

   The company said the Notes are senior unsecured obligations that rank equally with its other senior unsecured debt. Before June 15, 2034, it may redeem the Notes at a price equal to the greater of a make-whole amount based on the Treasury Rate plus 35 basis points and 100% of the principal amount.

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