04:33 PM EDT, 05/20/2024 (MT Newswires) -- F&G Annuities & Life ( FG ) said late Monday that it priced a public offering of $550 million of 6.500% senior notes due 2029.

The offering is expected to close on June 4.

The company said it plans to use a portion of the net proceeds to fund a cash tender offer by its Fidelity & Guaranty Life Holdings subsidiary for up to $250 million of 5.50% senior notes due 2025. The remaining proceeds are expected to be used for general corporate purposes.