Lincoln National to Issue $500M in 6.8% Subordinated Notes Due 2056
LNC is trading near its 52-week low of $32.18 (13% above the low).
Summary
Lincoln National has filed a final term sheet for an offering of $500 million in 6.800% fixed-to-fixed reset subordinated notes due 2056. This capital raise follows the company's Q1 2026 GAAP net loss and a reported decline in equity due to unrealized losses. The offering provides significant long-term capital but adds to the company's debt burden with a specific cost of 6.8% for subordinated debt.
At the time of this announcement, LNC was trading at $36.31 on NYSE in the Finance sector, with a market capitalization of approximately $6.9B. The 52-week trading range was $32.18 to $46.82. This news item was assessed with neutral market sentiment and an importance score of 7 out of 10. Source: Reuters.