Kemper plans add-on offering of 4.35% senior notes due February 2025

By Devika Patel

Knoxville, Tenn., June 12 – Kemper Corp. is eyeing an additional sale of its 4.35% senior notes (Baa3/BBB-/BBB-) due Feb. 15, 2025, according to a 424B5 filed with the Securities and Exchange Commission. The company sold $250 million of the notes on Feb. 19, 2015 and settled on Feb. 24, 2015.

The 2015 notes were issued at 99.937 to yield 4.359% with a spread of 225 basis points over Treasuries.

The notes feature a make-whole call at 35 bps prior to Nov. 15, 2024 and then are callable at par.

BofA Merrill Lynch, Goldman Sachs & Co. and J.P. Morgan Securities LLC are the bookrunners.

Proceeds are expected to be used for general corporate purposes.

Kemper is a diversified insurance holding company based in Chicago.

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