F&G Annuities & Life Enters Senior Notes Agreement

TL;DR

F&G Annuities & Life just locked in a deal for its 7.950% Senior Notes due 2053.

AI Summary

On January 6, 2025, F&G Annuities & Life, Inc. entered into a material definitive agreement related to its 7.950% Senior Notes due 2053. The company, incorporated in Delaware with its principal executive offices in Des Moines, Iowa, filed this 8-K report to disclose this significant financial transaction.

Why It Matters

This filing indicates a significant debt issuance or modification by F&G Annuities & Life, impacting its capital structure and future financial obligations.

Risk Assessment

Risk Level: medium — Senior notes represent a significant debt obligation, and changes or issuances can impact a company's financial leverage and interest expenses.

Key Numbers

• 7.950% — Senior Notes Interest Rate (Interest rate on the senior notes due 2053)
• 2053 — Senior Notes Maturity Year (Maturity year for the senior notes)

Key Players & Entities

• F&G Annuities & Life, Inc. (company) — Registrant
• 7.950% Senior Notes due 2053 (dollar_amount) — Financial Instrument
• January 6, 2025 (date) — Event Date
• Delaware (jurisdiction) — State of Incorporation
• Des Moines, Iowa (location) — Principal Executive Offices

FAQ

Key Financial Figures

• $0.001 — on Which Registered F&G Common Stock, $0.001 par value FG New York Stock Exchange 7
• $375 million — d the pricing of its public offering of $375 million aggregate principal amount of its 7.300

Filing Documents

• fg-20250106.htm (8-K) — 31KB
• exhibit11-pricing8xk.htm (EX-1.1) — 1691KB
• 0001628280-25-000774.txt ( ) — 1992KB
• fg-20250106.xsd (EX-101.SCH) — 3KB
• fg-20250106_def.xml (EX-101.DEF) — 15KB
• fg-20250106_lab.xml (EX-101.LAB) — 28KB
• fg-20250106_pre.xml (EX-101.PRE) — 16KB
• fg-20250106_htm.xml (XML) — 5KB

01 Entry into a Material Definitive Agreement

Item 1.01 Entry into a Material Definitive Agreement. 7.300% Junior Subordinated Notes due 2065 On January 6, 2025, F&G Annuities & Life, Inc., a Delaware corporation ("F&G") announced the pricing of its public offering of $375 million aggregate principal amount of its 7.300% Junior Subordinated Notes due 2065 (the "Notes"). The Notes were offered and sold pursuant to F&G's registration statement on Form S-3ASR (File No. 333-282432) (the "Registration Statement") filed with the Securities and Exchange Commission (the "SEC") on October 1, 2024 and were offered to the public pursuant to the prospectus supplement, dated January 6, 2025, to the prospectus, dated October 1, 2024, which forms a part of the Registration Statement. F&G intends to use the net proceeds from the offering of the Notes for general corporate purposes, including the repurchase, redemption or repayment at maturity of outstanding indebtedness. In connection with the offering of the Notes, F&G entered into an underwriting agreement, dated January 6, 2025, among F&G and Wells Fargo Securities, LLC, BofA Securities, Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and RBC Capital Markets, LLC, as representatives of the several underwriters named therein (the "Underwriting Agreement"). The offering of the Notes is expected to close on or about January 13, 2025, subject to customary closing conditions. A copy of the Underwriting Agreement is attached hereto as Exhibit 1.1, and incorporated by reference herein.

Forward-Looking Statements

Forward-Looking Statements This report contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements that are not related to present facts or current conditions or that are not historical facts, as well as statements that address activities, events, or developments that F&G anticipates will or may occur in the future, including, but not limited to, such things as the anticipated timing and closing of the Notes Offering and other such matters. You can identify forward-looking statements by words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "predict," "project," "seek," "outlook," "future," "will," "would," "should," "could," "may," "can have," "likely" and similar terms. Forward-looking statements include statements based on management's current expectations and assumptions about future events. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which are beyond F&G's control, that could cause actual results to differ materially from those in or implied by the forward-looking statements. Factors that may cause such differences include the risks and uncertainties described in F&G's Annual Report on Form 10-K for the year ended December 31, 2023, as amended, F&G's Quarterly Reports on Form 10-Q for the quarterly periods ended March 31, 2024, June 30, 2024 and September 30, 2024 and the other reports and filings F&G makes with the SEC. These forward-looking statements speak only as of the date of this report. F&G disclaims any obligation to update or revise any forward-looking statement, whether as a result of new information, future developments, changes in assumptions or otherwise.

01 Financial Statements and Exhibits

Item 9.01 Financial Statements and Exhibits. (d) Exhibits. Exhibit Description 1.1 Underwriting Agreement, dated as of January 6, 2025, among F&G Annuities & Life, Inc. and Wells Fargo Securities, LLC, BofA Securities, Inc., J.P. Morgan Securities LLC, Morgan Stanley & Co. LLC and RBC Capital Markets, LLC, as representatives of the several underwriters named therein. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document). 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: January 7, 2025 By: /s/ Michael L. Gravelle Name: Michael L. Gravelle Title: Executive Vice President, General Counsel and Corporate Secretary

View Full Filing

View this 8-K filing on SEC EDGAR