American Equity amends credit agreement to permit notes issuance

By Marisa Wong

Madison, Wis., July 12 - American Equity Investment Life Holding Co. amended its credit agreement dated Jan. 28, 2011 in order to complete an issuance of senior notes, according to an 8-K filing with the Securities and Exchange Commission.

American Equity entered into the first amendment on July 12 with JPMorgan Chase Bank, NA as administrative agent.

Besides permitting the company to issue the $400 million principal amount of 6 5/8% senior notes due 2021, the amendment also permits future guarantees of the notes by the company's subsidiaries.

The West Des Moines, Iowa-based underwriter of annuities and life insurance products priced the notes on Friday.

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