Two Midwestern insurers hold $245 million in LeBron James Nike-backed bonds, with those same balance sheets also backing annuities from Jackson (JXN) and Apollo (APO).
Non-qualified annuity gains face ordinary income tax up to 37%, no capital gains rates apply, and heirs inherit no step-up in basis at death.
Read More: Learn 7 ways to generate income with a $1,000,000+ portfolio (sponsor)
Somewhere in the general accounts of two Midwestern life insurers sits roughly $245 million in bonds backed by LeBron James's Nike deal.
According to Bloomberg, an LLC named King James Funding borrowed almost $300 million in 2018 from North American Company for Life and Health Insurance and Midland National Life Insurance Co., with bonds due in 2049 at a 4.8% coupon. A follow-on $60 million in 34-year bonds priced at 5.75% in August 2022. Guggenheim Partners arranged the deal, and the pledged revenue stream includes James's lifetime Nike sponsorship.
#million #james
Non-qualified annuity gains face ordinary income tax up to 37%, no capital gains rates apply, and heirs inherit no step-up in basis at death.
Read More: Learn 7 ways to generate income with a $1,000,000+ portfolio (sponsor)
Somewhere in the general accounts of two Midwestern life insurers sits roughly $245 million in bonds backed by LeBron James's Nike deal.
According to Bloomberg, an LLC named King James Funding borrowed almost $300 million in 2018 from North American Company for Life and Health Insurance and Midland National Life Insurance Co., with bonds due in 2049 at a 4.8% coupon. A follow-on $60 million in 34-year bonds priced at 5.75% in August 2022. Guggenheim Partners arranged the deal, and the pledged revenue stream includes James's lifetime Nike sponsorship.
#million #james
6 days ago
