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UnumProvident, 8.25% ACES Adj Conv Rate Equity Sec Units due 5/15/2006
Ticker Symbol: UNM-A* CUSIP: 91529Y403 Exchange: NYSE
* NOTE: This security is no longer trading as of 5/15/2006
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QUANTUMONLINE.COM SECURITY DESCRIPTION: UnumProvident Corp., 8.25% Adjustable Conversion-Rate Equity Security Units, stated amount $25 per unit, initially consisting of Normal Units which include a stock purchase contract and a 1/40 interest in a 6.00% senior note with a principal amount of $1000 or $25 per 1/40 interest. The stock purchase contract requires the holder to purchase for $25 a variable number of shares of UnumProvident Corp. (NYSE: UNM) common stock no later than 5/15/2006 and pays a contract adjustment rate of 2.25% per annum. The stock purchase settlement rate will be 1.8843 shares per unit if the then current market price is equal to or greater than $13.27 and 2.2989 shares per unit if the market price is equal to or less than $10.875. For market prices between those values the settlement rate will be $25 divided by the market value. Prior to the IPO of this security, the last reported sale price of the common stock on 5/01/2003 was $11.28. The senior note is due 5/15/2008 and is subject to reset and remarketing on the third business day prior to 2/15/2006. The Normal Units pay quarterly distributions of 8.25% ($2.0625) per annum on 2/15, 5/15, 8/15 & 11/15 to holders of record one business day prior to the payment date while the securities remain in book-entry form. The senior notes are pledged as collateral to secure the holder's obligations under the stock purchase contract. The holder has the right at any time to convert the Normal Units to Stripped Units by the substitution of a specified zero-coupon U.S. Treasury security for the senior notes and to later recreate Normal Units. The senior notes are unsecured and rank equally with the company's other unsecured senior indebtedness. See the IPO prospectus for extensive additional information on the equity security units and their mandatory conversion provisions by clicking on the ‘Link to IPO Prospectus’ provided below.
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Stock
Exchange |
Cpn Rate
Ann Amt |
LiqPref
CallPrice |
Call Date
Matur Date |
Moodys/S&P
Dated |
Conversion
Shares@Price |
Distribution Dates |
15%
Tax Rate |
NYSE
Chart
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8.25%
$2.0625
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$25.00
N/A
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5/15/2006
5/15/2008
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Ba1
BB+
12/29/2005
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1.8843@$13.27+
2.2989@$10.875-
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2/15, 5/15, 8/15 & 11/15
Click for MW ExDiv Date
Click for Yahoo ExDiv Date
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No
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Go to Parent Company's Record (UNM)
Notes: October 31, 2007 -- Unum Group (NYSE: UNM) today announced that it has sent a notice of redemption to the holders of all $150.0 million principal amount of its outstanding 7.25% Public Income Notes, or PINES, scheduled to mature in 2032. Unum Group became eligible to exercise its right to redeem these notes on June 25, 2007 under the stated terms of the PINES. The redemption date is December 3, 2007, and the redemption price is 100% of the principal amount of the PINES plus accrued and unpaid interest to the redemption date.
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IPO - 5/2/2003 - 20.00 Million Shares @ $25.00/share.
Link to IPO Prospectus
Market Value $546.0 Million
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Company's Online Information Links
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| Company's Online SEC EDGAR Filings |
| Company's Email Address Links |
| Address and Phone Numbers |
| Address: 1 Fountain Square, Chattanooga, TN 37402 |
| Main Phone Number |
423-294-1011 |
| Fax Number |
Not Available |
| Investor Relations
Thomas A.H. White, VP
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423-294-8996
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| Toll Free Phone Number |
800-866-3228 |
| CEO - Thomas R. Watjen |
CFO - Robert C. Greving |
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