LANSING, Mich.--(BUSINESS WIRE)--Jackson Financial Inc.1 (NYSE: JXN) (Jackson) today announced it has closed a $1.6 billion senior notes offering. The senior notes offering is spread across three tranches: $600 million aggregate principal amount of 1.125% senior notes due 2023, $500 million aggregate principal amount of 3.125% senior notes due 2031 and $500 million aggregate principal amount of 4.000% senior notes due 2051.
Jackson intends to use the net proceeds from the issuance of the senior notes, together with cash on hand, to repay the $1.6 billion outstanding principal amount of its term loan due May 21, 2022.
The senior notes were sold in a private placement to qualified institutional buyers in accordance with Rule 144A under the Securities Act of 1933, as amended (the "Securities Act"), and to certain non-United States persons in offshore transactions in accordance with Regulation S under the Securities Act.
The senior notes have not been registered under the Securities Act or the securities laws of any other jurisdiction. They may not be offered or sold in the United States or to, or for the benefit of, U.S. persons absent registration under, or an applicable exemption from, the registration requirements of the Securities Act. Jackson has agreed to file a registration statement with the SEC with respect to a registered offer to exchange the senior notes for new exchange notes having substantially identical terms as the senior notes, or, in certain circumstances,...
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