Finance

Brighthouse Monetary Broadcasts Early Tender Outcomes for 3.700% and 4.700% Senior Notes

CHARLOTTE, N.C., November 24, 2021–(BUSINESS WIRE)–Brighthouse Monetary, Inc. (the “Firm”) (Nasdaq: BHF) introduced in the present day the early tender outcomes for its beforehand introduced money tender provide (the “Provide”) for an combination buy worth of as much as $750 million (the “Tender Cap”) of its 3.700% Senior Notes due 2027 (the “2027 Notes”) and its 4.700% Senior Notes due 2047 (the “2047 Notes” and, along with the 2027 Notes, the “Notes” and every a “sequence” of Notes) from registered holders of the Notes (individually, a “Holder” or “you,” and collectively, the “Holders”).

The phrases and circumstances of the Provide are described within the Provide to Buy, dated November 9, 2021 (the “Provide to Buy”) and the associated Letter of Transmittal, dated November 9, 2021 (the “Letter of Transmittal” and, along with the Provide to Buy, the “Tender Provide Paperwork”).

The beforehand introduced withdrawal deadline of 5:00 p.m., New York Metropolis time, on November 23, 2021 has handed, and, accordingly, Notes validly tendered pursuant to the Provide could not be withdrawn, besides within the restricted circumstances described within the Provide to Buy. As of the beforehand introduced early tender date and time of 5:00 p.m., New York Metropolis time, on November 23, 2021 (the “Early Tender Deadline”), the combination principal quantity of every sequence of Notes set forth within the desk beneath has been validly tendered and never validly withdrawn within the Provide:

Title of Safety

CUSIP Quantity

Principal Quantity Excellent

Acceptance Precedence Degree

Combination Principal

Quantity Tendered

3.700% Senior Notes due 2027

10922NAC7/
10922NAA1/
U6225NAA0

$1,300,284,000

1

$542,842,000

4.700% Senior Notes due 2047

10922NAF0/
10922NAD5/
U6225NAB8

$1,150,000,000

2

$604,395,000

Holders of Notes validly tendered and never validly withdrawn on or previous to the Early Tender Deadline will likely be eligible to obtain the related Complete Consideration (as outlined within the Provide to Buy), which incorporates the relevant Early Tender Premium (as outlined within the Provide to Buy). The “Complete Consideration” per $1,000 principal quantity of Notes of every sequence validly tendered and accepted for buy pursuant to the Provide will likely be decided by reference to the mounted unfold specified for the relevant sequence of Notes plus the yield primarily based on the bid aspect worth of the relevant U.S. Treasury Safety for every sequence of Notes, as described within the Provide to Buy, as calculated by BofA Securities, Inc., Goldman Sachs & Co. LLC and Wells Fargo Securities, LLC at 10:00 a.m., New York Metropolis time, on November 24, 2021. Holders whose Notes are accepted for buy pursuant to the Provide may also obtain accrued and unpaid curiosity on their bought Notes from the final curiosity fee date for such Notes to, however excluding, the Early Settlement Date.

The Firm anticipates that fee for Notes which can be validly tendered and never validly withdrawn at or previous to the Early Tender Deadline and accepted for buy will likely be made on November 26, 2021.

The Provide will expire at 11:59 p.m., New York Metropolis time, on December 8, 2021, or some other date and time to which the Firm extends the Provide (such date and time, as the identical could also be prolonged, the “Expiration Time”), until earlier terminated. Tenders of the Notes within the Provide could not be withdrawn, besides in sure restricted circumstances the place further withdrawal rights are required by legislation.

The Financing Situation for the Provide described within the Provide to Buy was glad on November 22, 2021 upon the Firm’s issuance and sale of (i) 14,000,000 depositary shares, every representing a 1/1,000th curiosity in a share of its 4.625% Non-Cumulative Most popular Inventory, Sequence D and (ii) $400,000,000 combination principal quantity of three.850% Senior Notes due 2051.

The Firm’s obligation to simply accept for buy, and to pay for, Notes which can be validly tendered and never validly withdrawn pursuant to the Provide, as much as the Tender Cap, is topic to the satisfaction or waiver of the circumstances set forth within the Provide to Buy. The Firm continues to order absolutely the proper, topic to relevant legislation, to: (i) waive any and all circumstances to the Provide; (ii) lengthen or terminate the Provide; (iii) additional improve, lower or get rid of the Tender Cap for the Provide with out extending the Early Tender Deadline or Withdrawal Deadline (as outlined within the Provide to Buy); or (iv) in any other case amend the Provide the least bit. The Provide shouldn’t be conditioned upon any minimal quantity of Notes being tendered.

BofA Securities, Inc., Goldman Sachs & Co. LLC and Wells Fargo Securities, LLC are appearing as seller managers and Loop Capital Markets LLC is appearing as a co-dealer supervisor for the Provide. Questions relating to phrases and circumstances of the Provide must be directed to BofA Securities, Inc. by calling toll free at +1 (888) 292-0070 or accumulate at +1 (980) 387-3907, Goldman Sachs & Co. LLC by calling toll free at (800) 828-3182 or accumulate at (212) 357-1452, Wells Fargo Securities, LLC by calling toll free at (866) 309-6318 or accumulate at (704) 410-4756, or Loop Capital Markets LLC by calling toll free at (800) 894-0506.

D.F. King & Co., Inc. has been appointed as data agent (the “Data Agent”) and tender agent (the “Tender Agent”) in reference to the Provide. Questions or requests for help in reference to the Provide or the supply of tender directions, or for added copies of the Tender Provide Paperwork, could also be directed to D.F. King & Co., Inc. by calling accumulate at (212) 269-5550 (for banks and brokers) or toll free at (877) 283-0322 (for all others) or by e-mail at bhf@dfking.com. You may additionally contact your dealer, seller, business financial institution, belief firm or different nominee for help in regards to the Provide.

Not one of the Firm, the Firm’s Board of Administrators, the Seller Managers, the Tender Agent, the Data Agent, the trustee beneath the indenture governing the Notes or any of their respective associates is making any advice as as to whether Holders ought to tender any Notes in response to the Provide. Holders should make their very own determination as as to whether to tender any of their Notes and, if that’s the case, the principal quantities of Notes to tender.

This press launch shall not represent a suggestion to promote, a solicitation of a suggestion to purchase, or a suggestion to buy or promote any securities. The Provide is being made solely pursuant to the Provide to Buy and solely in such jurisdictions as is permitted beneath relevant legislation.

Ahead-Trying Statements

This information launch and different oral or written statements that we make now and again could comprise data that features or is predicated upon forward-looking statements inside the that means of the Non-public Securities Litigation Reform Act of 1995. Such forward-looking statements contain substantial dangers and uncertainties. Now we have tried, wherever potential, to determine such statements utilizing phrases akin to “anticipate,” “estimate,” “count on,” “could,” “will,” “may,” “intend,” “imagine” and different phrases and phrases of comparable that means.

All or any forward-looking statements could transform fallacious. They are often affected by inaccurate assumptions or by recognized or unknown dangers and uncertainties. Many such components will likely be vital in figuring out the precise future outcomes of the Firm. These statements are primarily based on present expectations and the present financial atmosphere and contain plenty of dangers and uncertainties which can be troublesome to foretell. These statements aren’t ensures of future efficiency. Precise outcomes may differ materially from these expressed or implied within the forward-looking statements as a result of a wide range of recognized and unknown dangers, uncertainties and different components. Though it’s not potential to determine all of those dangers and components, they embrace, amongst others: variations between precise expertise and actuarial assumptions and the effectiveness of our actuarial fashions; larger threat administration prices and publicity to elevated market threat as a result of ensures inside sure of our merchandise; the effectiveness of our variable annuity publicity threat administration technique and the affect of such technique on volatility in our profitability measures and destructive results on our statutory capital; materials variations from precise outcomes in comparison with the sensitivities calculated beneath sure eventualities and sensitivities that we could make the most of in reference to our variable annuity threat administration methods; the affect of rates of interest on our future ULSG policyholder obligations and internet revenue volatility; the affect of the COVID-19 pandemic; the potential materials antagonistic impact of modifications in accounting requirements, practices or insurance policies relevant to us, together with modifications within the accounting for long-duration contracts; lack of enterprise and different destructive impacts ensuing from a downgrade or a possible downgrade in our monetary energy or credit score scores; the provision of reinsurance and the flexibility of the counterparties to our reinsurance or indemnification preparations to carry out their obligations thereunder; heightened competitors, together with with respect to service, product options, scale, worth, precise or perceived monetary energy, claims-paying scores, credit score scores, e-business capabilities and title recognition; our capacity to market and distribute our merchandise via distribution channels; any failure of third events to offer companies we’d like, any failure of the practices and procedures of such third events and any incapacity to acquire data or help we’d like from third events; the flexibility of our subsidiaries to pay dividends to us, and our capacity to pay dividends to our shareholders and repurchase our frequent inventory; the antagonistic affect on liabilities for policyholder claims on account of excessive mortality occasions; the affect of antagonistic capital and credit score market circumstances, together with with respect to our capacity to fulfill liquidity wants and entry capital; the affect of financial circumstances within the capital markets and the U.S. and world economic system, in addition to geo-political or catastrophic occasions, on our funding portfolio, together with on realized and unrealized losses and impairments, internet funding unfold and internet funding revenue; the affect of occasions that adversely have an effect on issuers, guarantors or collateral regarding our investments or our derivatives counterparties, on impairments, valuation allowances, reserves, internet funding revenue and modifications in unrealized achieve or loss positions; the affect of modifications in regulation and in supervisory and enforcement insurance policies on our insurance coverage enterprise or different operations; the potential materials destructive tax affect of potential future tax laws that might make a few of our merchandise much less engaging to customers; the effectiveness of our insurance policies and procedures in managing threat; the loss or disclosure of confidential data, injury to our status and impairment of our capacity to conduct enterprise successfully on account of any failure in cyber- or different data safety programs; whether or not all or any portion of the tax penalties of our separation from MetLife, Inc. (“MetLife”) aren’t as anticipated, resulting in materials further taxes or materials antagonistic penalties to tax attributes that affect us; the uncertainty of the result of any disputes with MetLife or its subsidiaries over tax-related or different issues and agreements or disagreements relating to MetLife’s or our obligations beneath our different agreements; and different components described within the Provide to Buy and the paperwork integrated by reference herein.

Any forward-looking assertion speaks solely as of the date on which it’s made, and we undertake no obligation to replace or revise any forward-looking assertion to replicate occasions or circumstances after the date on which the assertion is made or to replicate the incidence of unanticipated occasions, besides as in any other case could also be required by legislation.

About Brighthouse Monetary, Inc.

Brighthouse Monetary, Inc. (Brighthouse Monetary) (Nasdaq: BHF) is on a mission to assist individuals obtain monetary safety. As one of many largest suppliers of annuities and life insurance coverage within the U.S.,1 we focus on merchandise designed to assist individuals shield what they’ve earned and guarantee it lasts. Study extra at brighthousefinancial.com.

1 Ranked by 2020 admitted belongings. Finest’s Evaluate®: Prime 200 U.S. Life/Well being Insurers. A.M. Finest, 2021.

View supply model on businesswire.com: https://www.businesswire.com/information/house/20211124005844/en/

Contacts

FOR INVESTORS
Dana Amante
(980) 949-3073
damante@brighthousefinancial.com

FOR MEDIA
Deon Roberts
(980) 949-3071
deon.roberts@brighthousefinancial.com

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