American Equity issues shares in exchange for $13.1 million 3.5% notes

By Jennifer Chiou

New York, Nov. 21 - American Equity Investment Life Holding Co. issued 1,061,317 shares of its common stock and paid cash in exchange for roughly $13.1 million of its 3.5% convertible senior notes due 2015, according to an 8-K filing with the Securities and Exchange Commission.

The company entered into the privately negotiated exchange agreement on Nov. 19.

American Equity is a West Des Moines, Iowa-based insurance company.

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