An indexed annuity player will be offering $150 million in debt securities.
American Equity Investment Life Holding Company, West Des Moines, Iowa (NYSE:AEL), says the securities will be convertible senior notes due 2015.
The initial purchasers will get an option to buy $50 million in additional notes, the company says.
Under some conditions, holders will be able to convert the notes into common stock, or a combination of cash and stock. American Equity says it will give details about the conversion rate and the conversion price when it prices the offering.