Horace Mann Educators Corporation of Springfield, Ill., which specializes in a variety of insurance products for educators and their families, has closed the sale of $150,005,000 aggregate principal amount of 3 percent senior convertible notes due May 14, 2032.
The notes will be convertible at the option of the holders into shares of Horace Mann Educators Corporation common stock at a conversion price of $26.74. The net proceeds from the note offering have been used in part for repayment of bank debt.
In other actions, the company’s board of directors re-elected Joseph J. Melone as chairman of the board.
Melone has been a director of the company since Feb. of 2001. He is currently a director of Bisys Inc. and Foster-Wheeler Corporation.
The board also announced a quarterly dividend of 10.5 cents per share payable on June 17, 2002, to shareholders of record as of May 31.
Was this article valuable?
Here are more articles you may enjoy.
Trapped Tesla Driver’s 911 Call: ‘It’s on Fire. Help Please’ 
What Analysts Are Saying About the 2026 P/C Insurance Market 
Longtime Alabama Dentist Charged With Insurance Fraud in 2025 Office Explosion 
GEICO Settles Call-Center Worker Suits for $940,000; Attorneys Get Half 
