Brighthouse Financial, Inc. - BHF STOCK NEWS

Brighthouse Financial, Inc. (Nasdaq: BHF) has announced the pricing terms for its cash tender offer, aiming to purchase up to $750 million of its 3.700% Senior Notes due 2027 and 4.700% Senior Notes due 2047. The offer's total consideration and accrued interest will be applicable for validly tendered notes until the early tender deadline of November 23, 2021. Due to exceeding the tender cap, acceptance will be prioritized. Payments for accepted notes will be made on November 26, 2021, and the offer will expire on December 8, 2021.

Brighthouse Financial (BHF) announced early tender results for its cash tender offer, targeting up to $750 million in its Senior Notes. Holders have until December 8, 2021, to participate. As of the early tender deadline on November 23, 2021, approximately $542.84 million of 3.700% Senior Notes and $604.39 million of 4.700% Senior Notes were validly tendered. The Offer is conditioned on financing, which was satisfied with a new $400 million note issuance. Payment for accepted tendered notes is expected on November 26, 2021.

AM Best has assigned a Long-Term Issue Credit Rating of “bbb+” (Good) to Brighthouse Financial's upcoming $400 million senior unsecured notes and “bbb-” (Good) to its $350 million preferred stock. The outlook is stable. Additionally, Brighthouse announced a cash tender offer to purchase up to $750 million of its existing senior unsecured notes. The company estimates its risk-based capital ratio between 520% and 540% as of Q3 2021, with a neutral impact on financial leverage and coverage metrics.

Brighthouse Financial (BHF) announced an increase in its cash tender offer for Senior Notes, raising the purchase price to $750 million. The company will acquire its 3.700% Senior Notes due 2027 and 4.700% Senior Notes due 2047 in accordance with specified Acceptance Priority Levels. The Financing Condition was amended to require gross proceeds of at least $750 million from debt or preferred stock financings. The offer expires on December 8, 2021, with an Early Tender Deadline on November 23, 2021.

Brighthouse Financial, Inc. (BHF) has launched a cash tender offer for up to $500 million in aggregate for its 3.700% Senior Notes due 2027 and 4.700% Senior Notes due 2047. The tender offer is set to expire on December 8, 2021, with an early tender deadline on November 23, 2021. The purpose is to refinance the tendered notes, and the financing condition must be met before any purchases are made. Participating dealers include BofA Securities, Goldman Sachs, and Wells Fargo.

Brighthouse Financial (BHF) reported strong financial results for Q3 2021, with net income available to shareholders at $361 million ($4.34 per diluted share) compared to a net loss of $3,012 million in Q3 2020. Adjusted earnings reached $514 million ($6.17 per diluted share). Annuity sales saw a 1% increase year-over-year, while life sales surged 108%. Holding company liquid assets stood at $1.5 billion. The company also executed a significant stock repurchase of $403 million year-to-date. The estimated risk-based capital ratio was between 520% and 540%, reflecting stable financial health.

Brighthouse Financial announced the appointment of Carol D. Juel as an independent Board member, effective November 17, 2021. Juel brings extensive technology and financial services experience, currently serving as Executive VP and Chief Technology Officer at Synchrony Financial and previously as CIO at GE Capital Retail Finance. Her expertise is expected to provide valuable insights into the company's strategy amidst a changing technology landscape. Brighthouse Financial is a leading provider of annuities and life insurance in the U.S.

Brighthouse Financial (BHF) announced a voluntary program for stockholders owning fewer than 100 shares to sell their shares conveniently. This initiative, which will be administered by Georgeson LLC, aims to cut down administrative costs. Stockholders will incur a processing fee of $3.65 per share, capped at $60 per account. Notifications will be sent by mail on October 25, 2021, with a participation deadline of January 7, 2022, unless extended. The company will not buy back shares nor recommend participation in this program.

Brighthouse Financial (BHF) will host a conference call on November 5, 2021, at 8:00 a.m. ET to discuss its third quarter financial results ending September 30, 2021. This follows the release of its earnings report and financial supplement on November 4, 2021, post-market close. Investors can access the call via the company's website or by phone after registering in advance. A replay will be available until November 26, 2021.

Brighthouse Financial is a major provider of annuities and life insurance in the U.S., focused on helping individuals achieve financial security.