Summary
This Form 8-K filing by MetLife, Inc. (MET) on October 4, 2012, primarily concerns the remarketing of $1 billion in Series C Senior Component Debentures. Specifically, the company completed the remarketing of $500 million of 1.756% Series C Tranche 1 Debentures and $500 million of 3.048% Series C Tranche 2 Debentures. These debentures, originally part of a larger $1 billion issuance in November 2010, will have their stated maturities adjusted effective October 10, 2012, to December 15, 2017, for Tranche 1 and December 15, 2022, for Tranche 2. This action is a modification to the rights of security holders regarding the maturity dates of these specific debentures. The filing also includes exhibits such as forms of security certificates and a legal opinion letter confirming the validity of these debentures.
Key Highlights
- 1MetLife completed the remarketing of $1 billion in Series C Senior Component Debentures on October 4, 2012.
- 2The remarketing involved two tranches: $500 million of 1.756% Series C Tranche 1 Debentures and $500 million of 3.048% Series C Tranche 2 Debentures.
- 3Effective October 10, 2012, the stated maturity for Tranche 1 Debentures is December 15, 2017.
- 4Effective October 10, 2012, the stated maturity for Tranche 2 Debentures is December 15, 2022.
- 5These debentures were originally issued in November 2010 as part of a larger $1 billion issuance due in 2023.
- 6The filing constitutes a material modification to the rights of security holders regarding the maturity dates of these specific debentures.
- 7Legal documentation, including forms of security certificates and an opinion letter from Willkie Farr & Gallagher LLP, is attached as exhibits.