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AmeriLife Completes $395M Financing Transaction

Jun 17, 2019

By Bernadette McCarthy

New agreement replaces existing credit facilities, provides additional capital for growth.

AmeriLife Group, LLC (“AmeriLife”), a national leader in developing, marketing and distributing annuity, life and health insurance solutions, today announced that it has entered into new credit facilities that provide for up to $395 million of financing. The new agreement includes a $250 million first lien term loan, $70 million second lien term loan, $35 million delayed draw first lien term loan and a $40 million revolving credit facility.

The re-financing transaction was over-subscribed, allowing AmeriLife to raise additional capital that will be used to fund future acquisitions and pay a special dividend to equity holders. Together with cash resources on hand, the new credit facilities provide AmeriLife with over $100 million of capital to fund the company’s growth and acquisition strategies.

“This transaction gives AmeriLife the financial flexibility to continue building the best independent, national distribution organization serving the rapidly growing pre-retiree and retiree markets,” said Scott R. Perry, CEO of AmeriLife. “It was made possible by the strong performance of our business in life, health and annuities, driven by a continued focus on creating value for our agents, distributors, consumers and carrier partners.”

“In addition to enhancing our financial flexibility, we’re pleased that the transaction attracted a broader group of blue-chip lenders to AmeriLife and reduced our cost of capital,” said Jim Quinn, CFO of AmeriLife. “We appreciate the confidence and support of J.C. Flowers & Co. (AmeriLife’s majority equity owner since 2015) and our financing partners, including the team at Credit Suisse who led the offering, and the teams at SunTrust and Deutsche Bank who served as joint lead arrangers,” Quinn added.

Since its inception in 1998, J.C. Flowers & Co., a private investment firm, has invested nearly $15 billion in 55 portfolio companies in 18 countries spread across the financial services industry.

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