debt
confidence high
sentiment neutral
materiality 0.60
F&G prices $550M 6.5% senior notes due 2029; launches tender for $250M of 5.5% notes due 2025
F&G Annuities & Life, Inc.
- Priced $550M aggregate principal of 6.500% senior notes due 2029; expected close June 4, 2024.
- Net proceeds partly fund cash tender offer for up to $250M of FGLH's 5.50% Senior Notes due 2025.
- Tender offer expires June 18, 2024; early participation date June 3, 2024 with $50/note early participation amount.
- Remaining proceeds for general corporate purposes, including possible debt repurchase or redemption.
- Notes guaranteed on unsecured unsubordinated basis by F&G's subsidiaries that are credit agreement guarantors.