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Fidelity & Guaranty Life Holdings, Inc. Successfully Completes Issuance of $300 Million of Senior Notes

  Fidelity & Guaranty Life Holdings, Inc. Successfully Completes Issuance of
  $300 Million of Senior Notes

Business Wire

BALTIMORE -- March 27, 2013

Fidelity & Guaranty Life Holdings, Inc. (“FGL”) successfully completed the
previously announced offering of $300.0 million aggregate principal amount of
senior notes due 2021. The notes were priced at par with a coupon of 6.375%
and closed on March 27th, 2013. FGL expects to use the net proceeds from the
issuance of the notes for general corporate purposes, to support the growth of
its subsidiary life insurance company and to pay a dividend to its parent
company, Harbinger Group Inc. (NYSE: HRG).

Forward Looking Statements

This document contains, and certain oral statements made by our
representatives from time to time may contain, forward-looking statements,
including the statements herein regarding the FGL notes offering. Such
statements are subject to risks and uncertainties that could cause actual
results, events and developments to differ materially from those set forth in
or implied by such statements. These statements are based on the beliefs and
assumptions of FGL's management and the management of FGL's subsidiaries
(including target businesses). Generally, forward-looking statements include
information concerning possible or assumed future actions, events, results,
strategies and expectations and are generally identifiable by use of the words
“believes,” “expects,” “intends,” “anticipates,” “plans,” “seeks,”
“estimates,” “projects,” “may,” “will”, “could,” “might,” or “continues” or
similar expressions. Factors that could cause actual results, events and
developments to differ include, without limitation: the ability of our
subsidiaries (including businesses we acquires, if any, in the future
following their acquisition) to generate sufficient net income and cash flows
to make, and to obtain regulatory approval of, cash distributions to us FGL
(including dividends or payments on surplus notes those subsidiaries issue to
us), capital market conditions, our and our subsidiaries’ ability to identify
any suitable future acquisition opportunities, efficiencies/cost avoidance,
cost savings, income and margins, growth, economies of scale, combined
operations, future economic performance, conditions to, and the timetable for,
completing the integration of financial reporting of acquired or target
businesses with us or our subsidiaries, completing future acquisitions and
dispositions, litigation, potential and contingent liabilities, our
management’s plans, our shareholder’s plans, and changes in regulations and
taxes. FGL does not undertake any obligation to update or revise
forward-looking statements to reflect changed assumptions, the occurrence of
unanticipated events or changes to future operation results.

About Fidelity & Guaranty Life Holdings, Inc.

Fidelity & Guaranty Life Holdings, Inc. is a subsidiary of Harbinger Group
Inc. and the parent company of Fidelity & Guaranty Life Insurance Company.
Originally incorporated in 1959, the direct insurance writer has a solid
commitment to serving the individuals it knows best – consumers seeking the
safety, protection, accumulation and income features of secure life insurance
and annuity products. Through its insurance subsidiaries, Fidelity & Guaranty
Life Insurance Company and Fidelity & Guaranty Life Insurance Company of New
York, the company is a leading provider of fixed indexed annuity and fixed
indexed universal life products.

Contact:

Investment Community:
Fidelity & Guaranty Life Holdings, Inc.
Paul Tyler, 410-895-0130
or
Media:
Sard Verbinnen & Co
Jamie Tully/Michael Henson, 212-687-8080
 
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