American Equity Prices $500 Million of Senior Notes
June 13 2017 - 05:19PM
Business Wire
American Equity Investment Life Holding Company (NYSE: AEL)
(“American Equity” or the “Company”) announced today that it has
priced a public offering of $500 million aggregate principal amount
of senior unsecured notes due 2027 (the “Notes”). The Notes will
bear interest at 5.0% and will mature on June 15, 2027.
The Company intends to use the net proceeds of the offering of
the Notes: (i) to redeem all of the Company’s 6.625% Senior Notes
due 2021 and (ii) to prepay in full the Company’s $100 million term
loan that matures on September 30, 2019.
J.P. Morgan Securities LLC and RBC Capital Markets, LLC are
acting as joint lead book-running managers of the offering, and
SunTrust Robinson Humphrey, Inc. and Citigroup Global Markets Inc.
are acting as joint book-running managers of the offering. The
offering is being made pursuant to an effective shelf registration
statement, previously filed by the Company with the SEC, and is
being made solely by means of a prospectus supplement and
accompanying prospectus. A copy of the prospectus supplement and
related base prospectus may be obtained on the SEC’s website at
www.sec.gov. Alternatively, the underwriters will provide copies
upon request to J.P. Morgan Securities LLC, 383 Madison Ave, New
York, New York, 10179, Attention - Investment Grade Syndicate Desk
or telephone collect at 1-212-834-4533 or by mail to Broadridge
Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11787,
Attention: Post-Sale Fulfillment or to RBC Capital Markets, LLC by
mail to 200 Vesey Street, 8th Floor, New York, NY 10281, Attention:
DCM Transaction Management, by phone at 1-866-375-6829, by fax at
212-658-6137 or by e-mail at
rbcnyfixedincomeprospectus@rbccm.com.
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any securities of American
Equity.
CAUTION REGARDING FORWARD-LOOKING STATEMENTS
This press release contains forward-looking statements within
the meaning of The Private Securities Litigation Reform Act of
1995. Forward-looking statements relate to future operations,
strategies, financial results or other developments, and are
subject to assumptions, risks and uncertainties. Statements such as
“guidance”, “expect”, “anticipate”, “believe”, “goal”, “objective”,
“target”, “may”, “should”, “estimate”, “projects” or similar words
as well as specific projections of future results qualify as
forward-looking statements. Factors that may cause our actual
results to differ materially from those contemplated by these
forward looking statements can be found in the company’s Form 10-K
filed with the SEC. Forward-looking statements speak only as of the
date the statement was made, and the Company undertakes no
obligation to update such forward-looking statements. There can be
no assurance that other factors not currently anticipated by the
Company will not materially adversely affect our results of
operations. Investors are cautioned not to place undue reliance on
any forward-looking statements made by us or on our behalf.
ABOUT AMERICAN EQUITY
American Equity Investment Life Holding Company, through its
wholly-owned operating subsidiaries, issues fixed annuity and life
insurance products, with a primary emphasis on the sale of fixed
index and fixed rate annuities. American Equity Investment Life
Holding Company, a New York Stock Exchange Listed company (NYSE:
AEL), is headquartered in West Des Moines, Iowa.
View source
version on businesswire.com: http://www.businesswire.com/news/home/20170613006527/en/
American Equity Investment Life Holding CompanySteven D.
Schwartz, 515-273-3763Vice President - Investor
Relationssschwartz@american-equity.com
American Equity Investme... (NYSE:AEL)
Historical Stock Chart
From Feb 2024 to Mar 2024
American Equity Investme... (NYSE:AEL)
Historical Stock Chart
From Mar 2023 to Mar 2024