DES
MOINES, Iowa, May 20, 2024
/PRNewswire/ -- F&G Annuities & Life, Inc. (NYSE: FG)
("F&G") today announced that it priced a public offering of
$550 million aggregate principal
amount of its 6.500% senior notes due 2029 (the "notes"). The
offering is expected to close on June 4,
2024, subject to satisfaction of customary closing
conditions.
The notes will be guaranteed on an unsecured, unsubordinated
basis by each of F&G's subsidiaries that are guarantors of
F&G's obligations under its existing credit agreement.
F&G intends to use a portion of the net proceeds of this
offering to finance a cash tender offer by Fidelity & Guaranty
Life Holdings, Inc. ("FGLH"), its wholly owned subsidiary and a
guarantor of the notes, for up to $250,000,000 aggregate principal amount of FGLH's
5.50% Senior Notes due 2025. F&G intends to use the remaining
net proceeds of this offering for general corporate purposes, which
may include the repurchase, redemption or repayment at maturity of
outstanding indebtedness.
BofA Securities, Inc., J.P. Morgan Securities LLC, RBC Capital
Markets, LLC and Wells Fargo Securities, LLC are acting as joint
book-running managers; Citigroup Global Markets Inc., Citizens JMP
Securities, LLC, KeyBanc Capital Markets Inc. and U.S. Bancorp
Investments, Inc. are acting as senior co-managers; and Barclays
Capital Inc., Deutsche Bank Securities Inc., Goldman Sachs &
Co. LLC and Morgan Stanley & Co. LLC are acting as co-managers
for the offering of the notes.
The public offering is being made pursuant to a registration
statement (including a prospectus, as supplemented) that F&G
has filed with the U.S. Securities and Exchange Commission (the
"SEC"). Copies of the registration statement may be accessed
through the SEC's website at www.sec.gov. A copy of the
prospectus (as supplemented), when available, may be obtained from
BofA Securities, Inc. toll-free at 1-800-294-1322, J.P. Morgan
Securities LLC collect at 1-212-834-4533, RBC Capital Markets, LLC
toll-free at 1-866-375-6829 and Wells Fargo Securities, LLC
toll-free at 1-800-645-3751 or by emailing
wfscustomerservice@wellsfargo.com.
This press release does not constitute an offer to sell, or a
solicitation of an offer to buy, any security and shall not
constitute an offer, solicitation or sale in any jurisdiction in
which such offer, solicitation or sale would be unlawful.
About F&G
F&G is committed to helping
Americans turn their aspirations into reality. F&G is a leading
provider of insurance solutions serving retail annuity and life
customers and institutional clients and is headquartered in
Des Moines, Iowa. For more
information, please visit www.fglife.com.
Forward-Looking Statements
This press release contains
forward-looking statements as that term is defined in the Private
Securities Litigation Reform Act of 1995. Forward-looking
statements include statements that are not related to present facts
or current conditions or that are not historical facts, as well as
statements that address activities, events, or developments
that F&G anticipates will or may occur in the future,
including, but not limited to, such things as the anticipated
timing and closing of the offering of the notes, the use of net
proceeds from the offering of the notes and other such matters. You
can identify forward-looking statements by words such as "believe,"
"expect," "anticipate," "intend," "plan," "estimate," "predict,"
"project," "seek," "outlook," "future," "will," "would," "should,"
"could," "may," "can have," "likely" and similar terms.
Forward-looking statements include statements based on management's
current expectations and assumptions about future events.
Forward-looking statements are subject to known and unknown risks
and uncertainties, many of which are beyond F&G's control,
that could cause actual results to differ materially from those in
or implied by the forward-looking statements. Factors that may
cause such differences include the risks and uncertainties
described in F&G's Annual Report on Form 10-K for the year
ended December 31, 2023, as amended,
F&G's Quarterly Report on Form 10-Q for the quarter ended
March 31, 2024 and the other reports
and filings F&G makes with the SEC. These forward-looking
statements speak only as of the date of this press release. F&G
disclaims any obligation to update or revise any forward-looking
statement, whether as a result of new information, future
developments, changes in assumptions or otherwise.
Contact:
Lisa Foxworthy-Parker
SVP of Investor & External Relations
515.330.3307
Investor.relations@fglife.com
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SOURCE F&G Annuities & Life, Inc.