8-KRegulation FD

METLIFE INC 8-K Report, Regulation FD Disclosure (Aug 24, 2017)

Filed August 24, 2017For Securities:METMET-PEMET-PFMET-PA

Summary

MetLife Inc. (MET) filed an 8-K on August 24, 2017, to disclose its ongoing consent solicitation for holders of its junior subordinated debentures and MetLife Capital Trust IV trust securities. The company is seeking approval for amendments to related indentures. MetLife has set a revised offer price of $10.00 per $1,000 of principal/liquidation amount and states this is the maximum price they will offer, emphasizing their commitment to long-term investor value. The company also reassured investors that its strong balance sheet supports its ability to continue paying its common dividend and execute its capital management plan, even if the consent solicitation is unsuccessful. This filing is crucial for holders of these specific debt instruments to understand the terms of the consent solicitation and the company's stance on the offer. Investors in MetLife's common stock should note the company's confidence in its financial stability and capital allocation strategies, which are expected to remain intact regardless of the outcome of this solicitation. The filing also includes standard cautionary language regarding forward-looking statements and directs readers to more comprehensive disclosure documents.

Key Highlights

  • 1MetLife is soliciting consent from holders of junior subordinated debentures and MetLife Capital Trust IV trust securities to amend related indentures.
  • 2The company has revised its offer to $10.00 per $1,000 of principal/liquidation amount for the consent solicitation.
  • 3MetLife states this revised offer is the maximum price they believe delivers long-term value and will not be further modified.
  • 4The company expresses confidence in its strong balance sheet and ability to continue paying its common dividend and execute its capital management plan, irrespective of the solicitation's success.
  • 5This 8-K serves as a Regulation FD disclosure regarding the consent solicitation process.
  • 6Holders are advised to carefully read the Consent Solicitation Statement and Consent Form for important details.
  • 7The filing includes standard disclaimers about forward-looking statements and directs investors to other SEC filings for comprehensive risk factors.

Frequently Asked Questions

MetLife is seeking the consent of holders of its junior subordinated debentures and MetLife Capital Trust IV trust securities to approve amendments to the indentures governing these securities. This is part of a consent solicitation process.

MetLife has revised its offer to $10.00 per $1,000 of principal or liquidation amount owned by holders who consent to the proposed amendments. The company states this is the maximum price they will offer.

MetLife assures common stock investors that it has a strong balance sheet and is confident in its ability to continue paying its common dividend and execute its capital management plan, even if the consent solicitation is unsuccessful. Their financial priority remains delivering long-term value.

Investors holding the relevant securities are strongly advised to carefully read the Consent Solicitation Statement and the Consent Form, as amended, which contain important information about the terms and conditions of the solicitation. These documents are being distributed by the Information Agent.