Horace Mann Educators Corporation (NYSE: HMN) has recently priced its offering of $300,000,000 aggregate principal amount of 4.700% senior notes due 2030. The transaction is expected to close on September 26, 2025. The company plans to use the net proceeds from this issuance for general corporate purposes, including the repayment of its 4.50% senior notes due 2025.
The notes will be issued pursuant to the company’s effective shelf registration statement on Form S-3 (file no. 333-277784). PNC Capital Markets LLC, BMO Capital Markets Corp., and J.P. Morgan Securities LLC acted as joint book-running managers for this offering.
In terms of the company's financial position, Horace Mann Educators Corporation is focused on helping America’s educators and others who serve the community achieve lifelong financial success. They offer individual and group insurance and financial solutions tailored to the needs of the educator community. The company was founded in 1945 and is headquartered in Springfield, Illinois.
As the company is planning to use the net proceeds for general corporate purposes, it's important to note that the offering will have implications for its overall financial health and future operations. This includes the potential impact on its debt structure and obligations, as well as the allocation of funds towards its strategic initiatives and growth plans. The market has reacted to these announcements by moving the company's shares 0.93% to a price of $45.80. Check out the company's full 8-K submission here.
