F&G Annuities & Life Prices Senior Unsecured Notes Offering

DES MOINES, Iowa, Nov. 29, 2023 /PRNewswire/ -- F&G Annuities & Life, Inc. (NYSE: FG) ("F&G")  today announced that it priced a public offering of $345 million aggregate principal amount of its 7.95% senior notes due 2053 (the "notes"). The offering is expected to close on December 6, 2023, subject to satisfaction of customary closing conditions.

The notes will be guaranteed on an unsecured, unsubordinated basis by each of F&G's subsidiaries that are guarantors of F&G's obligations under its existing credit agreement.

The notes are expected to be listed on the New York Stock Exchange under the symbol "FGN."

F&G intends to use the net proceeds from the sale of the notes to repay borrowings under its revolving credit facility and for general corporate purposes, including the support of organic growth opportunities.

Wells Fargo Securities, LLC, BofA Securities, Inc., Morgan Stanley & Co. LLC, RBC Capital Markets, LLC and UBS Securities LLC are acting as joint book-running managers; Citigroup Global Markets Inc., Citizens JMP Securities, LLC, KeyBanc Capital Markets Inc. and U.S. Bancorp Investments, Inc. are acting as senior co-managers; and Barclays Capital Inc., Deutsche Bank Securities Inc. and Goldman Sachs & Co. LLC are acting as co-managers for the offering.

The public offering is being made only by means of a prospectus. A copy of the final prospectus, when available, may be obtained from Wells Fargo Securities, LLC, by telephone, toll-free at 1-800-645-3751, or by email at wfscustomerservice@wellsfargo.com, BofA Securities, Inc., by telephone, toll-free at 1-800-294-1322, Morgan Stanley & Co. LLC, by telephone, toll-free at 1-866-718-1649, RBC Capital Markets, LLC, by telephone, toll-free at 1-866-375-6829 or UBS Securities LLC, by telephone, toll-free at 1-888-827-7275.

A registration statement relating to these securities has been filed with, and declared effective today by, the U.S. Securities and Exchange Commission (the "SEC"). Copies of the registration statement can be accessed through the SEC's website at www.sec.gov.

This press release does not constitute an offer to sell, or a solicitation of an offer to buy, any security and shall not constitute an offer, solicitation or sale in any jurisdiction in which such offer, solicitation or sale would be unlawful.

About F&G
F&G is committed to helping Americans turn their aspirations into reality. F&G is a leading provider of insurance solutions serving retail annuity and life customers and institutional clients and is headquartered in Des Moines, Iowa.

Forward-Looking Statements

This press release contains forward-looking statements as that term is defined in the Private Securities Litigation Reform Act of 1995. Forward-looking statements include statements that are not related to present facts or current conditions or that are not historical facts, as well as statements that address activities, events, or developments that F&G anticipates will or may occur in the future, including, but not limited to, such things as the anticipated timing and closing of the offering of the notes, the use of net proceeds from the offering of the notes and other such matters. You can identify forward-looking statements by words such as "believe," "expect," "anticipate," "intend," "plan," "estimate," "predict," "project," "seek," "outlook," "future," "will," "would," "should," "could," "may," "can have," "likely" and similar terms. Forward-looking statements include statements based on management's current expectations and assumptions about future events. Forward-looking statements are subject to known and unknown risks and uncertainties, many of which are beyond F&G's control, that could cause actual results to differ materially from those in or implied by the forward-looking statements. Factors that may cause such differences include the risks and uncertainties described in F&G's Annual Report on Form 10-K for the year ended December 31, 2022 filed with the SEC, as amended and supplemented, and the other reports and filings F&G makes with the SEC. These forward-looking statements speak only as of the date of this press release. F&G disclaims any obligation to update or revise any forward-looking statement, whether as a result of new information, future developments, changes in assumptions or otherwise.

Contact:
Lisa Foxworthy-Parker
SVP of Investor & External Relations
515.330.3307
Investor.relations@fglife.com

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SOURCE F&G Annuities & Life, Inc.