Horace Mann Educators Corporation Announces Pricing of $125 Million Senior Note Offering
April 18 2006 - 4:05PM
PR Newswire (US)
SPRINGFIELD, Ill., April 18 /PRNewswire-FirstCall/ -- Horace Mann
Educators Corporation (NYSE:HMN) today announced the pricing of a
sale of $125 million aggregate principal amount of 6.85% senior
notes due 2016. The closing of the offering is expected to occur on
April 21, 2006. The company intends to use approximately $74.0
million of the net proceeds from the offering to reduce the amount
currently outstanding under its bank credit agreement, which
borrowings were used to retire a portion of the company's
outstanding 1.425% senior convertible notes due 2032. Any remaining
net proceeds will be used for general corporate purposes, and
potentially to reduce other corporate indebtedness. The senior
notes will be issued pursuant to the company's effective shelf
registration statement on Form S-3 (File No. 333-111234). The
company's filings with the SEC can be viewed on Horace Mann's
Internet website, http://www.horacemann.com/ , on the Investor
Relations page, by clicking on the menu item "SEC Filings". This
press release shall not constitute an offer to sell or the
solicitation of an offer to buy, nor shall there be any sale of the
senior notes or any other security in any state in which such
offer, solicitation or sale is not permitted. Horace Mann -- the
largest national multiline insurance company focusing on educators'
financial needs -- provides auto and homeowners insurance,
retirement annuities, life insurance and other financial solutions.
Founded by educators for educators in 1945, the company is
headquartered in Springfield, Ill. For more information, visit
http://www.horacemann.com/ . Statements included in this news
release that are not historical in nature are forward-looking
within the meaning of the Private Securities Litigation Reform Act
of 1995 and are subject to certain risks and uncertainties. Horace
Mann is not under any obligation to (and expressly disclaims any
such obligation to) update or revise any forward-looking
statements, whether as a result of new information, future events
or otherwise. Please refer to the company's Annual Report on Form
10-K for the year ended December 31, 2005 and the company's past
and future filings and reports filed with the Securities and
Exchange Commission for information concerning the important
factors that could cause actual results to differ materially from
those in forward-looking statements. DATASOURCE: Horace Mann
Educators Corporation CONTACT: Dwayne D. Hallman, Senior Vice
President - Finance of Horace Mann Educators Corporation,
+1-217-788-5708 Web site: http://www.horacemann.com/
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