Summary
MetLife, Inc. (MET) filed an 8-K on March 23, 2009, to announce the commencement of an offering for its Senior Notes due 2012. This offering is being conducted in connection with the Federal Deposit Insurance Corporation’s (FDIC) Temporary Liquidity Guarantee Program (TLGP), which was set to increase its fees effective April 1, 2009. The Senior Notes are guaranteed by the TLGP and backed by the full faith and credit of the United States, offering a level of security to investors.
Key Highlights
- 1MetLife is offering Senior Notes due 2012 to raise capital.
- 2The offering is exempt from registration under Section 3(a)(2) of the Securities Act of 1933.
- 3The notes are guaranteed by the FDIC's Temporary Liquidity Guarantee Program (TLGP).
- 4The TLGP guarantee is backed by the full faith and credit of the United States.
- 5MetLife may issue up to $397 million under the TLGP.
- 6Proceeds from the note offering will be used for general corporate purposes.