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FBL Financial Group affiliates refinance $100 million of notes
By Lisa Kerner
Charlotte, N.C., May 4 - FBL Financial Group, Inc. affiliates refinanced the company's $100 million of 9¼% senior notes due Nov. 5, 2011.
The notes are being replaced by $100 million of 6.1% senior notes due May 3, 2015, according to an FBL news release.
Farm Bureau Property & Casualty acquired a note for $75 million, and an investment affiliate of Iowa Farm Bureau Federation, FBL's majority shareholder, acquired a note for $25 million.
The notes are prepayable anytime at par.
FBL Financial is a West Des Moines, Iowa-based holding company whose primary operating subsidiaries are Farm Bureau Life Insurance Co. and EquiTrust Life Insurance Co.
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