Daily News: June 18, 2019

Credit Suisse Leads AmeriLife $395MM Refi


AmeriLife Group 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.

“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 (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.”

AmeriLife develops, markets and distributes annuity, life and health insurance solutions, leveraging a national distribution network of over 140,000 insurance agents and brokers via nearly 20 marketing organizations and more than 50 insurance agency locations.