F&G Annuities & Life Inc (FG) has released an update.
F&G Annuities & Life, Inc. has revamped its $665 million credit agreement, now enhancing it to $750 million and extending its maturity date. The revised agreement features variable interest rates tied to the base rate or Term SOFR with margins that fluctuate based on F&G’s debt ratings. Additionally, F&G will incur a quarterly facility fee, also variable with its credit rating. The agreement imposes standard financial covenants on F&G, which, if breached, could lead to increased interest rates or acceleration of loan payments.
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