American Equity redeem all 6 5/8% senior notes due 2021 via new notes

By Tali Rackner

Minneapolis, June 13 – American Equity Investment Life Holding Co. plans to redeem all of its 6 5/8% senior notes due 2021 using the net proceeds from a new $500 million senior note offering, according to a press release.

Proceeds from the 10-year notes will also be used to fully prepay the company’s $100 million term loan maturing Sept. 30, 2019.

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

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