American National Group Inc. Files 8-K on Material Agreement

TL;DR

ANG entered a big deal & took on debt, filing shows.

AI Summary

On October 2, 2024, American National Group Inc. filed an 8-K report detailing a material definitive agreement and the creation of a direct financial obligation. The filing indicates the company entered into a significant agreement and incurred a financial obligation, though specific details of the agreement and obligation are not provided in this summary.

Why It Matters

This filing signals a significant corporate event for American National Group Inc., potentially impacting its financial structure and future operations.

Risk Assessment

Risk Level: medium — The filing indicates a material definitive agreement and a direct financial obligation, which could introduce financial risks or opportunities for the company.

Key Players & Entities

• American National Group Inc. (company) — Registrant
• October 2, 2024 (date) — Date of earliest event reported

FAQ

Key Financial Figures

• $600,000,000 — ced public offering (the "Offering") of $600,000,000 aggregate principal amount of the Compa

Filing Documents

• tm2425384d1_8k.htm (8-K) — 37KB
• tm2425384d1_ex4-1.htm (EX-4.1) — 393KB
• tm2425384d1_ex4-2.htm (EX-4.2) — 108KB
• tm2425384d1_ex5-1.htm (EX-5.1) — 10KB
• tm2425384d1_ex5-1img001.jpg (GRAPHIC) — 11KB
• tm2425384d1_ex5-1img002.jpg (GRAPHIC) — 69KB
• 0001104659-24-105456.txt ( ) — 975KB
• ael-20241002.xsd (EX-101.SCH) — 3KB
• ael-20241002_def.xml (EX-101.DEF) — 26KB
• ael-20241002_lab.xml (EX-101.LAB) — 36KB
• ael-20241002_pre.xml (EX-101.PRE) — 25KB
• tm2425384d1_8k_htm.xml (XML) — 5KB

01

Item 1.01 Entry into a Material Definitive Agreement. On October 2, 2024, American National Group Inc. (the "Company") closed its previously announced public offering (the "Offering") of $600,000,000 aggregate principal amount of the Company's 5.750% Senior Notes due 2029 (the "Notes"). The Notes were sold in a public offering pursuant to the Company's registration statement on Form S-3 (File No. 333-281155). In connection with the issuance of the Notes, the Company entered into an Indenture, dated as of October 2, 2024 (the "Base Indenture"), between the Company, as issuer, and Wilmington Trust, National Association, as trustee (the "Trustee") and a First Supplemental Indenture, dated as of October 2, 2024 (the "First Supplemental Indenture" and, together with the Base Indenture, the "Indenture"), between the Company and the Trustee, which supplemented the Base Indenture. The Company intends to use the net proceeds from the Offering to repay a portion of the outstanding indebtedness under its term loan credit facility. The Notes are unsecured and unsubordinated obligations of the Company that rank equally in right of payment with all of the Company's existing and future unsecured and unsubordinated indebtedness and that rank senior in right of payment to all of the Company's existing and future subordinated indebtedness. The Notes are effectively subordinated to any secured obligations the Company may have in the future to the extent of the value of the collateral securing such obligations. The Notes are effectively subordinated to all of the existing and future indebtedness and other liabilities of the Company's subsidiaries. The Notes will bear interest at a rate of 5.750% per annum, payable semi-annually on April 1 and October 1, to persons who are registered holders of the Notes on the immediately preceding March 15 and September 15, beginning on April 1, 2025. The Indenture limits the ability of the Company and certain of its subsidiaries to incur certain

03

Item 2.03 Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant. The information set forth in Item 1.01 is incorporated herein by reference.

Financial Statements and Exhibits

Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 4.1 Indenture, dated as of October 2, 2024, between American National Group Inc., as issuer, and Wilmington Trust, National Association, as trustee. 4.2 First Supplemental Indenture, dated as of October 2, 2024, between American National Group Inc., as issuer, and Wilmington Trust, National Association, as trustee. 4.3 Form of 5.750% Senior Notes due 2029 (included in Exhibit 4.2). 5.1 Opinion of Cravath, Swaine & Moore LLP. 23.1 Consent of Cravath, Swaine & Moore LLP (included in Exhibit 5.1). 104 Cover Page Interactive Data File - the cover page XBRL tags are embedded within the Inline XBRL document. Cautionary Language Regarding Forward Looking Statements This Current Report on Form 8-K contains forward-looking statements that are based on current expectations of management of the Company. Such statements include plans, projections and estimates regarding the use of proceeds from the Offering. Such forward-looking statements are subject to certain risks, uncertainties and assumptions, including prevailing market conditions and other factors. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary materially from those expected. SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. AMERICAN NATIONAL GROUP INC. Date: October 2, 2024 By: /s/ Reza Syed Reza Syed Chief Financial Officer & Executive Vice President

View Full Filing

View this 8-K filing on SEC EDGAR