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Fidelity & Guaranty seeks to amend 6.375% notes due 2021 for buyout
By Susanna Moon
Chicago, Nov. 8 – Fidelity & Guaranty Life said subsidiary Fidelity & Guaranty Life Holdings Inc. is soliciting consents to amend its 6.375% senior notes due 2021 for a planned merger.
Fidelity & Guaranty Life plans to acquire a subsidiary of CF Corp., according to a company announcement.
The consent solicitation will end at 5 p.m. ET on Nov. 14. Holders must be of record as of 5 p.m. ET on Nov. 7.
The cash consent payment will be $10.00 for each $1,000 principal amount.
Settlement is contingent on the company securing consents from holders of a majority of the outstanding notes.
The company noted that it does not need to implement the proposed amendments and add the new guarantees in order to complete the acquisition.
RBC Capital Markets, LLC (212 618-7843 or 877 381-2099) is the solicitation agent. D.F. King & Co., Inc. (800 735-3591, 212 269-5550 or fgl@dfking.com) is the information agent and tabulation agent.
Fidelity & Guaranty Life is a Des Moines insurance holding company offering fixed annuity and life insurance products.
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