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F&G Annuities & Life, Inc., headquartered in Des Moines, Iowa, is a prominent provider of insurance solutions, catering to both retail annuity and life customers as well as institutional clients. The company recently announced the pricing of a public offering of $345 million aggregate principal amount of its 7.95% senior notes due 2053 (symbol: FGN), set to close on December 6, 2023, subject to customary closing conditions. These notes will be guaranteed on an unsecured, unsubordinated basis by F&G's subsidiaries that are guarantors under its existing credit agreement. The notes will be listed on the New York Stock Exchange.
F&G plans to utilize the net proceeds from this offering to repay borrowings under its revolving credit facility and to fund general corporate purposes, including supporting organic growth opportunities. This strategic financial move indicates the company's commitment to financial stability and growth, ensuring it can continue to provide valuable insurance solutions to its clients.
The joint book-running managers for the offering include Wells Fargo Securities, BofA Securities, Morgan Stanley, RBC Capital Markets, and UBS Securities. Senior co-managers include Citigroup Global Markets, Citizens JMP Securities, KeyBanc Capital Markets, and U.S. Bancorp Investments, with Barclays Capital, Deutsche Bank Securities, and Goldman Sachs acting as co-managers. This diverse and reputable team of financial institutions underscores the robust support for F&G's financial initiatives.
F&G is known for its dedication to helping Americans achieve their financial aspirations through innovative insurance products and services. The company's forward-looking statements, grounded in current management expectations and market conditions, reflect its proactive approach to navigating potential risks and seizing future opportunities. F&G remains committed to transparency and regulatory compliance, as evidenced by its detailed filings with the U.S. Securities and Exchange Commission (SEC).
By continuously monitoring and adapting to market trends, F&G ensures its offerings remain competitive and relevant, providing customers with reliable financial solutions. The company's recent achievements and ongoing projects highlight its robust position in the insurance industry, reinforcing its role as a key player in helping clients secure their financial futures.
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