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American Equity holders may opt to convert 5.25% notes into cash
By Susanna Moon
Chicago, Dec. 8 – American Equity Investment Life Holding Co. entered into a first supplemental indenture to its 5.25% contingent convertible senior notes due 2029 on Monday, according to an 8-K filing with the Securities and Exchange Commission.
The first supplemental indenture provides that holders may elect, at their option, to receive the conversion value of the notes entirely in cash, effective Dec. 8.
As previously announced, the notes will be redeemed at par plus accrued interest on Dec. 15.
The company called its $32,142,000 of 5.25% contingent convertibles on Nov. 12.
U.S. Bank NA is the trustee.
American Equity is a West Des Moines, Iowa-based insurance company.
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