Insurer and investment manager Lincoln National Corp. said Tuesday it priced an offering of $300 million worth of 10-year fixed-rate senior notes with an annual interest rate of 6.25 percent.
The notes are due Feb. 15, 2020.
The company will use the proceeds for general corporate purposes, including repaying $250 million worth of senior notes that come due March 12.
UBS Securities LLC and U.S. Bancorp Investments Inc. served as joint book-running managers.
Shares fell 24 cents to close earlier at $22.47.