FGN And FGSN: F&G Annuities' 2 Long-Dated Notes - The Second Has A Buy Rating

Retired InvestorInvesting GroupFollow5ShareSavePlay(8min)Comment(1)SummaryF&G Annuities & Life, Inc. offers higher-yielding notes compared to larger peers like Prudential, reflecting its smaller scale and credit profile.FG's senior and junior subordinated notes provide yields of 7.95% and 7.3%, respectively, with strong coverage ratios of 9.5x (interest) and 14x (par value).FG's FGSN notes are rated BB and the FGN notes are BBB-, lower than Prudential's PRH BBB+, but no payment has been missed despite some years of lower income.I am giving the FGSN Note a Buy rating for its 9.1%, though I might hold off building a full position until the price decline appears to have climaxed.FGN holders might consider doing a swap, especially if holding FGN at a loss.Looking for more investing ideas like this one? Get them exclusively at iREIT®+HOYA Capital. Learn More » Supatman/iStock via Getty Images Introduction If you are like me, F&G Annuities & Life, Inc. (FG) is not a company you have heard of. That is understandable, as it’s Total Investments ($68B) is a fraction of what the well known Prudential Financial (This article was written byRetired Investor9.27K FollowersFollowRetired Investor has been investing since the 1980s and has a background in data analysis and pension fund management. He writes articles to help others prepare for retirement by investing in CEFs, ETFs, BDCs, and REITs. He is a long only investor and shares strategies for trading options with a focus on cash-secured-puts. He is a contributing author to the investing group iREIT®+HOYA CapitalThe group helps investors achieve dependable monthly income, portfolio diversification, and inflation hedging. It provides investment research on REITs, ETFs, closed-end funds, preferreds, and dividend champions across asset classes. It offers income-focused portfolios targeting dividend yields up to 10%.Learn more.Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article. Seeking Alpha's Disclosure: Past performance is no guarantee of future results. No recommendation or advice is being given as to whether any investment is suitable for a particular investor. Any views or opinions expressed above may not reflect those of Seeking Alpha as a whole. Seeking Alpha is not a licensed securities dealer, broker or US investment adviser or investment bank. Our analysts are third party authors that include both professional investors and individual investors who may not be licensed or certified by any institute or regulatory body.