Printer Friendly

LIFE PARTNERS GROUP ANNOUNCES PUBLIC OFFERING

 LIFE PARTNERS GROUP ANNOUNCES PUBLIC OFFERING
 DALLAS, July 23 /PRNewswire/ -- Life Partners Group, Inc., announced


today the public offering of $100 million of its 12-3/4 percent senior subordinated notes due 2002, priced at 100 percent. The First Boston Corporation, Merrill Lynch & Co., Kidder, Peabody & Co. Incorporated and Prudential Securities Incorporated are the underwriters offering the notes.
 The notes are redeemable at the option of Life Partners, in whole or in part, on or after July 15, 1997, at redemption prices beginning at 103.643 percent of their principal amount declining to par on or after July 15, 1999.
 Net proceeds to the company from the sale of notes will be used to retire in full the $90 million principal amount of Life Partners' subordinated indebtedness and to prepay a portion of Life Partners' senior debt.
 Life Partners is an insurance holding company that, through its two principal insurance subsidiaries, Massachusetts General and Philadelphia Life, sells a diverse portfolio of universal life insurance and annuity products. The company also generates cash flow and income from its substantial block of in-force traditional and universal life insurance. Life Partners was organized by Hicks, Muse & Co. Incorporated in 1990 to complete the acquisition of seven life insurance companies.
 -0- 7/23/92
 /CONTACT: Joseph D. Fashano of First Boston, 212-909-2107/ CO: Life Partners Group, Inc. ST: Texas, Massachusetts, Pennsylvania IN: INS SU: OFR


GK-LR -- NY049 -- 2445 07/23/92 11:07 EDT
COPYRIGHT 1992 PR Newswire Association LLC
No portion of this article can be reproduced without the express written permission from the copyright holder.
Copyright 1992 Gale, Cengage Learning. All rights reserved.

Article Details
Printer friendly Cite/link Email Feedback
Publication:PR Newswire
Date:Jul 23, 1992
Words:239
Previous Article:BF GOODRICH TO SUSPEND OPERATIONS AT SHAWINIGAN, QUEBEC, PLANT
Next Article:MOBIL SELLS CORPUS CHRISTI TERMINAL TO CITGO
Topics:


Related Articles
LIFE PARTNERS GROUP FILES FOR INITIAL OFFERING OF 9.2 MILLION COMMON SHARES
LIFE PARTNERS GROUP FILES FOR INITIAL OFFERING OF 11.4 MILLION COMMON SHARES
DUFF & PHELPS RATES LIFE PARTNERS GROUP, INC., MASSACHUSETTS GENERAL LIFE INSURANCE COMPANY AND PHILADELPHIA LIFE INSURANCE COMPANY
KEMPER CONTRIBUTES INTERESTS IN OUTLET MALLS IN EXCHANGE FOR INTEREST IN REIT AND RECEIVES $100 MILLION NET CASH
NEW HOLDING COMPANY TO BE NAMED TRAVELERS/AETNA PROPERTY CASUALTY CORP.
Goldman Sachs to Pursue an Initial Public Offering.
Jefferson Pilot Financial Introduces Key Person Insurance Through Group Operation.
SeraCare Life Sciences Announces Closing of Public Offering of Common Stock.
Aon Risk Services Announces Appointment of Managing Director in Life Sciences National Practice Group.
Level Four Expands Footprint with New Mid-Atlantic Office.

Terms of use | Copyright © 2017 Farlex, Inc. | Feedback | For webmasters