debt
confidence high
sentiment neutral
materiality 0.60
American National closes $600M 5.75% Senior Notes due 2029; proceeds to repay term loan
American National Group Inc.
- $600M aggregate principal of 5.750% Senior Notes due 2029 issued; closed Oct 2, 2024.
- Interest at 5.75% per annum, payable semi-annually; maturity Oct 1, 2029.
- Net proceeds used to repay a portion of outstanding term loan credit facility.
- Notes are unsecured, unsubordinated, and rank equally with existing unsecured debt.
- Redeemable at option; make-whole call prior to Sept 1, 2029 at Treasury Rate plus 35 bps.