FGL Holdings (FG) Prices $550M Notes Offering

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 [email protected].

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.

You May Also Be Interested In

• Csquare launches IPO targeting up to $1.55B raise on NYSE
• TeraWulf signs 20-year Anthropic lease, sells Abernathy stake
• S&P Global restructures Market Intelligence into two units