American Equity starts roadshow for $250 million eight-year notes

By Paul A. Harris

Portland, Ore., June 18 - American Equity Investment Life Holding Co. began a roadshow on Tuesday for a $250 million public offering of eight-year senior notes (BB+/expected BB), according to a market source.

The roadshow wraps up on Thursday, and the deal is expected to price on Thursday or Friday.

J.P. Morgan Securities LLC has the books.

SunTrust Robinson Humphrey Inc., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Friedman Billings Ramsay and Raymond James are the co-managers.

The notes come with four years of call protection.

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

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

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