Forethought To Sell $150M Debt
April 6, 2010 by N/A
04-06-2010 | Source: emii.com
Forethought Financial Group is planning to offer $150 million of 10-year debt, Bloomberg reports. The Indianapolis-based life insurance and annuities provider will use the sale proceeds to retire $146 million of paid-in-kind notes held by coffin maker, Hillenbrand.
Credit Suisse and UBS are the joint book managers for Forethought’s offering. The terms of the deal are undisclosed. Hillenbrand, which sold Foresight to Devlin Group in 2004, helped finance the purchase by accepting a promissory note and equity warrants.
Click here for the story from Bloomberg.