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Pacific LifeCorp Announces Pricing of Private Placement of $500 Million Aggregate Principal Amount of 5.125% Senior Notes due 2043.

NEWPORT BEACH, Calif. -- Pacific LifeCorp (the "Company") today announced the pricing of $500 million aggregate principal amount of 5.125% senior notes due 2043 (the "notes"). The notes have been offered only to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and outside the United States in accordance with Regulation S under the Securities Act. The Company plans to use the net proceeds of the private placement in connection with the previously announced tender offer by Pacific Life Insurance Company for its 9.25% Surplus Notes due 2039 and for general corporate purposes.

The notes have not been registered under the Securities Act or under any state securities laws. Therefore, the Company may not offer or sell the notes within the United States to, or for the account or benefit of, any United States person unless the offer or sale would qualify for a registration exemption from the Securities Act and applicable state securities laws.

This press release does not constitute an offer to sell or the solicitation of an offer to buy any of the notes nor does it constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale is unlawful.

About Pacific LifeCorp and Pacific Life

Pacific LifeCorp is an intermediate stock holding company and is a wholly-owned subsidiary of Pacific Mutual Holding Company. It is also the parent company of Pacific Life Insurance Company. Offering insurance since 1868, Pacific Life provides a wide range of life insurance products, annuities, and mutual funds, and offers a variety of investment products and services to individuals, businesses, and pension plans. Pacific Life and its affiliates count more than half of the 100 largest U.S. companies as their clients. Client count as of May 2012 is compiled by Pacific Life using the 2012 FORTUNE 500[R] list.
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Publication:Business Wire
Geographic Code:1U9CA
Date:Jan 17, 2013
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