Davis Polk advised Merrill Lynch, Pierce, Fenner & Smith Incorporated, U.S. Bancorp Investments, Inc. and Wells Fargo Securities, LLC as joint book-running managers on an SEC-registered offering by Torchmark Corporation of $300 million aggregate principal amount of 3.8% senior notes due 2022. Davis Polk also advised Merrill Lynch, Pierce, Fenner & Smith Incorporated and Wells Fargo Securities, LLC as joint book-running managers on an SEC-registered offering by Torchmark Corporation of $125 million aggregate principal amount of 5.875% junior subordinated debentures due 2052.
Based in McKinney, Texas, Torchmark Corporation is a holding company specializing in life and supplemental health insurance for “middle income” Americans marketed through multiple distribution channels, including direct response, and exclusive and independent agencies.
The Davis Polk corporate team included partners Alan F. Denenberg and Mischa Travers and associates Tyler P. Pender and Nicholas J. Dashman. The tax team included partner Rachel D. Kleinberg and law clerk Catherine Paskoff Chang. Kimberly Kakade and Nam Kim were the legal assistants on the transaction. All members of the Davis Polk team are based in the Menlo Park office.
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