American Equity to prepay $100 million term loan via note proceeds

By Tali Rackner

Minneapolis, June 13 – American Equity Investment Life Holding Co. plans to fully prepay its $100 million term loan maturing Sept. 30, 2019 using the net proceeds from a new $500 million senior note offering, according to a press release.

Proceeds from the 10-year notes will also be used to redeem all of the company’s 6 5/8% senior notes due 2021.

American Equity is a West Des Moines, Iowa-based underwriter of annuities and life insurance products.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.