MetLife (MET) Announces 75M Common Offering
Tweet
Share
E-mailGet Alerts MET Hot Sheet
Join SI Premium – FREE
MetLife, Inc. (NYSE: MET) announced today plans to offer 75 million shares of common stock to the public.
Net proceeds from the common stock offering will be used to help finance the $6.8 billion cash portion of the purchase price for MetLife’s previously announced acquisition of American Life Insurance Company from American International Group, Inc.
The underwriters will have a 30-day option to purchase shares representing an additional 15% of the offering amount from MetLife, Inc. to cover over-allotments, if any. BofA Merrill Lynch, Credit Suisse, Deutsche Bank Securities, HSBC, UBS Investment Bank and Wells Fargo Securities are the book-running managers for the transaction.
In addition to the common stock offering, MetLife also plans to offer approximately $3 billion in senior debt in several series with varying maturities and interest rates. The remainder of the cash portion of the purchase price for the acquisition will be funded with cash on hand.
Net proceeds from the common stock offering will be used to help finance the $6.8 billion cash portion of the purchase price for MetLife’s previously announced acquisition of American Life Insurance Company from American International Group, Inc.
The underwriters will have a 30-day option to purchase shares representing an additional 15% of the offering amount from MetLife, Inc. to cover over-allotments, if any. BofA Merrill Lynch, Credit Suisse, Deutsche Bank Securities, HSBC, UBS Investment Bank and Wells Fargo Securities are the book-running managers for the transaction.
In addition to the common stock offering, MetLife also plans to offer approximately $3 billion in senior debt in several series with varying maturities and interest rates. The remainder of the cash portion of the purchase price for the acquisition will be funded with cash on hand.
Are you missing key trading opportunities? Upgrade to StreetInsider Premium and get a step ahead of the market - FREE TRIAL!
Create E-mail Alert Related Categories
Equity OfferingsRelated Entities
Credit Suisse, Deutsche Bank, UBS, Merrill Lynch, Bank of America, HSBCSign up for StreetInsider Free!
Receive full access to all new and archived articles, unlimited portfolio tracking, e-mail alerts, custom newswires and RSS feeds - and more!
