- Category
- Defining Matters
- Date
- July 27, 2017
- Title
-
Kramer Levin Represents Initial Purchaser in Offering of $57.32M Surplus Notes by The Savings Bank Life Insurance Company of Massachusetts
Kramer Levin represented Piper Jaffray & Co., as sole bookrunner and initial purchaser, in connection with a Rule 144A/Regulation S offering by The Savings Bank Life Insurance Company of Massachusetts, a life insurance company, of $57,320,000 aggregate principal amount of 6.50% Surplus Notes due 2047. The proceeds are being used to replace surplus used to pay consideration to existing shareholders to enable The Savings Bank Life Insurance Company of Massachusetts to complete its conversion from stock to mutual form upon which its name will be changed to The Savings Bank Mutual Life Insurance Company of Massachusetts.
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Christopher S. Auguste
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