Jackson Financial enters USD 900 million P-Caps financing facility with Grand River Funding Trusts

Reuters04:20

Jackson Financial enters USD 900 million P-Caps financing facility with Grand River Funding Trusts

Jackson entered facility agreements with Grand River Funding Trust I and Grand River Funding Trust II, giving it the right to require each trust to purchase senior notes.
The agreements provide issuance rights of up to USD 500 million for 6.311% senior notes due 2036 and up to USD 400 million for 7.28% senior notes due 2056.
A semi-annual facility fee applies at 2.066% per annum on the unexercised portion for the 2036 trust and 2.43% per annum for the 2056 trust.
The trusts funded their purchase of pre-capitalized trust securities with proceeds invested in U.S. Treasury principal and interest strips.

Disclaimer: This news brief was created by Public Technologies (PUBT) using generative artificial intelligence. While PUBT strives to provide accurate and timely information, this AI-generated content is for informational purposes only and should not be interpreted as financial, investment, or legal advice. Jackson Financial Inc. published the original content used to generate this news brief via EDGAR, the Electronic Data Gathering, Analysis, and Retrieval system operated by the U.S. Securities and Exchange Commission (Ref. ID: 0001104659-26-032100), on March 19, 2026, and is solely responsible for the information contained therein.

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