What is the significance of the remarketing of the Series D Debentures?

The remarketing of the Series D Debentures involves adjusting their maturity date to September 15, 2023, and potentially altering their terms or how they are traded in the market. It also impacts the holders of the related Common Equity Units by settling certain stock purchase contracts.

How does this affect my investment if I held the original Series D Debentures?

If you held the original Series D Debentures, the primary impact is the shift in the maturity date from 2024 to September 15, 2023. This means the principal repayment is now expected one year earlier than originally anticipated.

What are Common Equity Units and how are they related to these debentures?

The Series D Debentures were initially issued as part of MetLife's Common Equity Units. This filing indicates that some holders of these units elected cash settlement for their related Series D stock purchase contracts, leading to the delivery of $114,000 in principal amount of Series D Debentures.

Are there any new risks introduced by this remarketing?

The filing itself does not explicitly outline new risks. However, a shift in maturity could affect MetLife's capital structure planning and the timing of cash outflows. Investors should refer to the Prospectus Supplement dated September 3, 2013, for a comprehensive understanding of the terms and risks associated with these debentures.

METLIFE INC 8-K: Shareholder Matters

Summary

MetLife, Inc. filed an 8-K report on September 10, 2013, to disclose material modifications to the rights of security holders and other events. The primary focus of this filing is the remarketing of its 4.368% Series D Senior Debentures, with an aggregate principal amount of approximately $999.9 million. This remarketing results in an adjusted stated maturity date of September 15, 2023, for these debentures, a slight shift from their original maturity in 2024. Additionally, the company reported the settlement of related Series D stock purchase contracts, with $114,000 in principal amount of Series D Debentures delivered to holders who opted for cash settlement. These debentures were originally issued as part of MetLife's common equity units in November 2010 and were offered under a shelf registration statement. The filing also includes an opinion letter from Willkie Farr & Gallagher LLP regarding the validity of the remarketed debentures.

Key Highlights

1MetLife remarketed approximately $999.9 million of its 4.368% Series D Senior Debentures.
2The stated maturity of the Series D Debentures has been adjusted to September 15, 2023.
3The original maturity of these debentures was slated for 2024.
4$114,000 of Series D Debentures were settled in cash for holders of Common Equity Units.
5The Series D Debentures were initially part of Common Equity Units issued in November 2010.
6The remarketing and sale were conducted under a shelf registration statement filed with the SEC.
7A legal opinion from Willkie Farr & Gallagher LLP on the validity of the debentures is included as an exhibit.

METLIFE INC 8-K Report, Rights Modification (Sep 10, 2013)

Summary

Key Highlights

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