NEW YORK--(BUSINESS WIRE)--Global Atlantic Financial Group Limited (“Global Atlantic”) today announced that Global Atlantic (Fin) Company (the “Issuer”), a wholly owned indirect subsidiary of Global Atlantic, has commenced a private offering (the “Offering”) of senior notes due 2029 (the “Notes”). The Notes will be fully and unconditionally guaranteed on a senior unsecured basis by Global Atlantic Financial Limited, the direct parent of the Issuer.
The Notes will be offered in a private offering exempt from the registration requirements of the United States Securities Act of 1933, as amended (the “Securities Act”). The Notes will be offered only to qualified institutional buyers pursuant to Rule 144A and to certain persons outside the United States pursuant to Regulation S, each under the Securities Act. The Issuer intends to use the proceeds from the Offering to repay the revolving borrowings outstanding under its revolving credit facility, which matures in May 2023, and for general corporate purposes.
The Notes have not been and will not be registered under the Securities Act and may not be offered or sold within the United States absent registration or an applicable exemption from the registration requirements.
This press release is not an offer to sell or a solicitation of an offer to sell or purchase with respect to the Notes or any other securities and shall not constitute an offer, solicitation or sale in any state or jurisdiction in which, or to any person to whom, such an offer, solicitation or sale would be unlawful. The offering of the Notes is only being made pursuant to the terms of the offering memorandum provided to prospective investors.
This press release may contain “forward-looking statements” within the meaning of the Private Securities Litigation Reform Act of 1995 that are based on current expectations, forecasts and assumptions that involve risks and uncertainties. These forward-looking statements include, but are not limited to, the completion of, and the use of proceeds from, the proposed Offering. Forward-looking statements include, but are not limited to, statements that represent Global Atlantic’s beliefs concerning future operations, strategies, financial results or other developments, and contain words and phrases such as “may,” “expects,” “should” or similar expressions. Because these forward-looking statements are based on estimates and assumptions that are subject to significant business, economic and competitive uncertainties, many of which are beyond Global Atlantic’s control or are subject to change, actual results could be materially different and Global Atlantic’s results of operations, its financial condition and its liquidity could be adversely affected. Consequently, such forward-looking statements should be regarded solely as Global Atlantic’s plans, estimates and beliefs. Global Atlantic does not intend, and does not undertake, any obligation to update any forward-looking statements to reflect future events or circumstances or any change in Global Atlantic’s expectations after the date of such statements.