Financial StrategyThe $825mm equity issuance for LNC will allow them to accelerate their deleveraging plan while also allowing them to accelerate growth in spread products.
Operational PerformanceAll four segments posted year-over-year sales growth.
Strategic PartnershipLNC announced a strategic relationship with Bain, whereby Bain is acquiring a 9.9% stake in LNC through an equity issuance, at $44 per share, which is a 25% premium to last 30 trading days but a 50% premium to the most recent close after the big recent market selloff.