SBL Holdings, Inc. Completes Issuance of $650 Million of Senior Debt

October 30, 2024 at 10:20 AM EDT

Offering by parent of Security Benefit Life Insurance Company diversifies investor base, reinforces its long-term capital position

SBL Holdings, Inc. (“Security Benefit”), today announced the completion of an offering of $650 million of 7.2% senior notes due 2034. Security Benefit is the parent company of Topeka-based Security Benefit Life Insurance Company.

Security Benefit intends to use net proceeds of the issuance to repay borrowings under its corporate revolving credit facility. The remaining net proceeds will be available for general corporate purposes. The notes have been assigned a rating of BBB- (Stable Outlook) by S&P Global Ratings and BBB- (Stable Outlook) by Fitch Ratings, Inc.

“We’re proud to complete this offering, which diversifies our investor base, strengthens our long-term capital position, and is indicative of our continued momentum,” said Doug Wolff, CEO of Security Benefit. “The success of the issuance reflects the market’s ongoing recognition of our robust business model, our investment performance, and our product offerings.”

This press release is for informational purposes only and does not constitute an offer to sell, or a solicitation of an offer to buy, any securities of SBL Holdings, Inc.

The notes were offered in the United States to (i) qualified institutional buyers pursuant to Rule 144A under the Securities Act of 1933 (the “Securities Act”) and (ii) to non-U.S. persons outside the United States pursuant to Regulation S under the Securities Act. The notes have not been, and will not be, registered under the Securities Act or the securities laws of any other jurisdiction, and may not be offered or sold in the United States or to U.S. persons without registration under the Securities Act, the securities laws of any other jurisdiction or an applicable exemption from the registration requirements.

About Security Benefit

SBL Holdings, Inc., through its subsidiary Security Benefit Life Insurance Company, a Kansas-domiciled insurance company that has been in business for more than 132 years, is a leader in the U.S. retirement market. Security Benefit, together with its affiliates, offers products in a full range of retirement markets and wealth segments for employers and individuals and held $52.8 billion in assets under management as of June 30, 2024. Security Benefit, an Eldridge Industries business, continues its mission of helping Americans To and Through Retirement^®.