American Equity Investment delays $150 million two-part deal pending Fitch rating

By Paul A. Harris

St. Louis, May 7 - American Equity Investment Life Holding Co. has delayed its $150 million offering of 10- and 12-year senior notes (BB+) pending a rating from Fitch Ratings, according to market sources.

Merrill Lynch & Co., Raymond James, Advest and Wachovia Securities are the underwriters of the off-the-shelf deal.

Proceeds will be used to refinance bank debt and for general corporate purposes.

The company is a West Des Moines, Iowa-based underwriter of annuity and insurance products.

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