The investment-grade notes are due 2052

Davis Polk advised the representatives of the initial purchasers in connection with the offering by Pacific LifeCorp of $750 million aggregate principal amount of its 5.400% senior notes due 2052. The senior notes were sold in an offering exempt from registration pursuant to Rule 144A. Proceeds of the offering will be used for general corporate purposes.

For more than 150 years, Pacific Life has helped millions of individuals and families with their financial needs through a wide range of life insurance products, annuities and mutual funds, and it offers a variety of investment products and services to individuals, businesses and pension plans. Pacific Life counts more than half of the 100 largest U.S. companies as its clients and has been named one of the 2022 World’s Most Ethical Companies by the Ethisphere Institute.

The Davis Polk corporate team included partner Derek Dostal, counsel Jennifer Ying Lan and associates Alaael-Deen Shilleh and Elizabeth Rodgers. Partner Michael Farber, counsel Aliza Slansky and associate Benjamin Helfgott provided tax advice. Partner Pritesh P. Shah and associate Alexis N. Wallace provided intellectual property advice. All members of the Davis Polk team are based in the New York office.

Copy link to share post