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FGL Holdings unit to offer senior notes

FGL Holdings unit Fidelity & Guaranty Life Holdings Inc. plans to offer approximately $550 million aggregate principal amount of senior notes due 2025, subject to market conditions.

The company expects to use the net proceeds to repay $135 million of borrowings under its revolving credit facility and related expenses, to redeem in full and satisfy and discharge all of the outstanding $300 million aggregate principal amount of subsidiary's outstanding 6.375% senior notes due 2021 and for general corporate purposes.