Printer Friendly

DUFF & PHELPS: THE NWNL COMPANIES, INC. $120 MILLION SENIOR NOTES RATED 'A'

 CHICAGO, Aug. 27 /PRNewswire/ -- Duff & Phelps Credit Rating Co. has rated The NWNL Companies, Inc.'s $120 million 10-year senior note issue "A" (Single-A). The senior notes were issued at a fixed rate of 6.625 percent and are noncallable until maturity Sept. 15, 2003. The net proceeds from the sale of securities will used to retire $100 million in 10.25 percent senior notes in March of 1994 and repay $20 million in bank debt used in connection with the ESOP in 1991. The debt securities issued are unsecured obligations ranking equally and ratably with other unsecured and unsubordinated indebtedness of The NWNL Companies, Inc.
 The NWNL companies Inc. is a Minneapolis-based insurance holding company that through its principle subsidiaries, Northwestern National Life Insurance company, Northern Life Insurance Company, and North Atlantic Life Insurance Company offers individual life insurance and annuity products and empy?ee benefits products. NWNL Companies, Inc. had consolidated assets of $9.5 billion and stockholder's equity of $702 million at June 30, 1993.
 -0- 8/27/93
 /CONTACT: Martha M. Butler, CFA, Duff & Phelps Credit Rating Co., 312-368-3191/
 (NWN)


CO: NWNL Companies, Inc. ST: Minnesota IN: FIN SU: RTG

LG -- NY019 -- 6548 08/27/93 10:37 EDT
COPYRIGHT 1993 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1993 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Aug 27, 1993
Words:203
Previous Article:DUFF & PHELPS: Mutual of America Life Insurance Co., The American Life Insurance Company of New York, Claims Paying Ability Ratings Reaffirmed
Next Article:TEXAS-NEW MEXICO POWER COMPANY FILES FOR BASE RATE INCREASE IN NEW MEXICO
Topics:

Terms of use | Copyright © 2016 Farlex, Inc. | Feedback | For webmasters