F&G Annuities & Life Enters Material Agreement, New Financial Obligation

Ticker: FGN · Form: 8-K · Filed: Feb 16, 2024 · CIK: 1934850

F&G Annuities & Life, Inc. 8-K Filing Summary
FieldDetail
CompanyF&G Annuities & Life, Inc. (FGN)
Form Type8-K
Filed DateFeb 16, 2024
Risk Levelmedium
Pages3
Reading Time4 min
Key Dollar Amounts$0.001, $665 million, $750 million
Sentimentneutral

Sentiment: neutral

Topics: debt, material-agreement, financial-obligation

TL;DR

**F&G Annuities & Life just took on a new material financial obligation, watch for details!**

AI Summary

F&G Annuities & Life, Inc. filed an 8-K on February 16, 2024, reporting an "Entry into a Material Definitive Agreement" and "Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement." The filing indicates an event date of February 16, 2024, and lists the company's address as 801 Grand Avenue, Suite 2600, Des Moines, Iowa 50309. This suggests the company has entered into a significant new financial commitment or agreement.

Why It Matters

This filing signals a new, potentially significant financial commitment for F&G Annuities & Life, which could impact its balance sheet and future financial performance.

Risk Assessment

Risk Level: medium — The filing indicates a new material definitive agreement and financial obligation, the specifics of which are not detailed, creating uncertainty about its impact.

Key Players & Entities

  • F&G Annuities & Life, Inc. (company) — Registrant
  • February 16, 2024 (date) — Date of Earliest Event Reported
  • 801 Grand Avenue, Suite 2600, Des Moines, Iowa 50309 (address) — Principal Executive Offices
  • 515-330-3340 (phone_number) — Registrant's Telephone Number
  • Delaware (state) — State of Incorporation

FAQ

What is the earliest event reported in this 8-K filing?

The earliest event reported in this 8-K filing occurred on February 16, 2024.

What type of events did F&G Annuities & Life, Inc. report in this 8-K?

F&G Annuities & Life, Inc. reported an "Entry into a Material Definitive Agreement" and "Creation of a Direct Financial Obligation or an Obligation under an Off-Balance Sheet Arrangement of a Registrant."

What is the business address of F&G Annuities & Life, Inc. as stated in the filing?

The business address of F&G Annuities & Life, Inc. is 801 Grand Avenue, Suite 2600, Des Moines, Iowa 50309.

What is the Commission File Number for F&G Annuities & Life, Inc.?

The Commission File Number for F&G Annuities & Life, Inc. is 001-41490.

In which state is F&G Annuities & Life, Inc. incorporated?

F&G Annuities & Life, Inc. is incorporated in Delaware.

Filing Stats: 990 words · 4 min read · ~3 pages · Grade level 12.2 · Accepted 2024-02-16 09:23:05

Key Financial Figures

  • $0.001 — on Which Registered F&G Common Stock, $0.001 par value FG New York Stock Exchange
  • $665 million — endment and restatement of its existing $665 million credit agreement (the " Existing Credit
  • $750 million — under the revolving credit facility to $750 million. Revolving loans under the Restated C

Filing Documents

01. Entry into a Material Definitive Agreement

Item 1.01. Entry into a Material Definitive Agreement. On February 16, 2024, F&G Annuities & Life, Inc. (" F&G ") entered into an amendment and restatement of its existing $665 million credit agreement (the " Existing Credit Agreement "), dated as of November 22, 2022, with the guarantors party thereto, the financial institutions party thereto as lenders and Bank of America, N.A., as administrative agent (in such capacity, the " Administrative Agent "), swing line lender and an issuing bank, (the " Restated Credit Agreement "). Among other changes, the Restated Credit Agreement amends the Existing Credit Agreement to (x) extend the maturity date and (y) increase the aggregate principal amount of commitments under the revolving credit facility to $750 million. Revolving loans under the Restated Credit Agreement generally bear interest at a variable rate based on either (i) the base rate (which is the highest of (a) one-half of one percent in excess of the federal funds rate, (b) the Administrative Agent's "prime rate", (c) the sum of one percent plus one month Term SOFR or (d) 1.00%) plus a margin of between 30.0 and 80.0 basis points depending on the non-credit-enhanced, senior unsecured long-term debt ratings of F&G or (ii) Term SOFR plus a margin of between 130.0 and 180.0 basis points depending on the non-credit-enhanced, senior unsecured long-term debt ratings of F&G. At the current Standard & Poor's, Moody's and Fitch non-credit-enhanced, senior unsecured long-term debt ratings of BBB-/Ba1/BBB, respectively, the applicable margin for revolving loans subject to Term SOFR is 165 basis points. In addition, F&G will pay a facility fee of between 20.0 and 45.0 basis points on the entire facility, also depending on the F&G's non-credit-enhanced, senior unsecured long-term debt ratings, which is payable quarterly in arrears. Under the Restated Credit Agreement, F&G is subject to customary affirmative, negative and financial covenants, including, among other thin

01. Financial Statements and Exhibits

Item 9.01. Financial Statements and Exhibits. (d) Exhibits. Exhibit Description 10.1 Amended and Restated Credit Agreement, dated as of February 16, 2024, by and among F&G Annuities & Life, Inc., a Delaware corporation, as the borrower, the guarantors party thereto, Bank of America, N.A., as administrative agent, and the financial institutions party thereto as lenders. 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. F&G Annuities & Life, Inc. Date: February 16, 2024 By: /s/ Jodi Ahlman Name: Jodi Ahlman Title: General Counsel & Secretary

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