Lincoln National prices $300 million debt offering

AP News
Posted: Dec 08, 2009 6:42 PM

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.