F&G Annuities and Life (FG) has announced they will be selling a new baby bond with a maturity date way out in 2065.
The issue will have an early call available to the company in January, 2030.
The company does have an optional deferral period available up to 1 or more times for 5 consecutive years with such deferral NOT being a default.
The preliminary prospectus is here.
The company has a 7.95% issue already outstanding which can be seen here.
Thanks to J for posting this one and Jerrymac chiming in with yield talk in the 7.50% area.
Users who liked this:
Ba1/BB
Just as a point of interest when I see a Life & Annuity company sometimes I will go over to WalletHub.com to check customer “reviews” of the company. There are 8 reviews and all horrible on this company. I will take a pass on this one.
FGN also nets 7.5% but $1.25 above par and callable in 4 years. New one looks better if selling near par.
Expected Ratings: Ba1 (Moody’s) / BB (S&P) / BB (Fitch)
Anyone know what the rating will be on these Jr. sub bonds?