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Harbinger’s Fidelity & Guaranty Life Gets $295 Million Loan

Fidelity & Guaranty Life, the insurance company owned by Harbinger Group Inc., got $295 million of credit to replace financing provided by its former owner Old Mutual plc.

Nomura Holdings Inc. is providing Fidelity & Guaranty the loan, which matures in five years, Harbinger, a diversified holding company based in New York, said today in a statement distributed by Thomson Reuters.

The company has “eliminated the last remaining credit support by its former owner, more than three years ahead of our obligation and at a lower financing cost,” Phil Gass, Harbinger’s vice president of investments, said in the statement.

Harbinger completed the purchase of Fidelity & Guaranty, based in Baltimore, from Old Mutual in April 2011, according to the statement.

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