Torchmark Corporation $300 Million Junior Subordinated Debentures Offering

Davis Polk advised the joint book-running managers on an SEC-registered offering by Torchmark Corporation of $300 million aggregate principal amount of 6.125% junior subordinated debentures due 2056.

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 partner Alan F. Denenberg and associates Tyler P. Pender and Angela J. Koo. The tax team included partner Rachel D. Kleinberg. Associate Brantley Hawkins provided 1940 Act advice. Members of the Davis Polk team are based in the Northern California and New York offices.