AmericanEquity Investment Life Holding Co. has made a capital contributionto its insurance unit AmericanEquity Investment Life Insurance Co. from the proceeds of a $100million term loan.
American Equity Investment Life Holding entered into acredit agreement with certain lenders and JPMorgan Chase Bank NA as a lenderand as administrative agent providing for the term loan and a $150 millionunsecured revolving credit facility.
The agreement includes an accordion feature that enables thecompany to increase the revolving facility by $50 million, subject to certainterms and conditions. The company plans to use the proceeds from the revolvingfacility for general corporate purposes.
The revolving facility replaces the company's credit agreement.