FGL Holdings says it will be issuing about $550 million in senior notes to pay bills and refinance other debt.
CF Corp., a Cayman Islands-based investment firm with ties to Blackstone, completed acquiring Fidelity & Guaranty Life from HRG Group Inc., another investment company, in November 2017. CF Corp. said the deal had a total value of about $1.8 billion.
FGL Holdings, the holding company that now controls Fidelity & Guaranty Life, trades under the symbol FG on the New York Stock Exchange.
The new senior notes will come due in 2025, FGL said earlier this week.
FGL Holdings said it expects to use $135 million in proceeds to pay off debts obtained through a revolving credit facility, and about $300 million in notes that pay an interest rate of 6.375% and are due in 2021. It also expects to use some of the proceeds for general corporate purposes.