American Equity postpones $250 million eight-year notes offer

By Paul A. Harris

Portland, Ore., June 21 - American Equity Investment Life Holding Co. postponed its $250 million public offering of eight-year senior notes (BB+/expected BB) due to market conditions, a market source said on Friday.

The deal was in the market via bookrunner J.P. Morgan Securities LLC and was expected to price by the end of the week.

Proceeds had been designated to repay debt and for general corporate purposes.

American Equity is a West Des Moines, Iowa-based underwriter of annuities and life insurance products.

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