Intact Financial Corporation Completes CDN$250 million Medium Term Note Offering
OREANDA-NEWS. Intact Financial Corporation (TSX: IFC) announced today that it has closed its previously announced CDN$250 million offering of Series 6 medium term notes due March 2, 2026 (the "Notes").
The Notes were offered on a best efforts basis through a syndicate co-led by TD Securities Inc. and CIBC World Markets Inc. and including Scotia Capital Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc., RBC Dominion Securities Inc. and Casgrain & Company Limited. The Notes are direct unsecured obligations of IFC and rank equally with all other unsecured and unsubordinated indebtedness of IFC. The Notes will bear interest at a fixed annual rate of 3.77% until maturity on March 2, 2026. The net proceeds of the offering of Notes will be used for general corporate purposes.
The Notes have been given a rating of A with a stable trend by DBRS Limited, a rating of Baa1 with a positive outlook by Moody's Investors Service, Inc. and a rating of A- by Fitch Ratings Inc.
The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended ("U.S. Securities Act"), and may not be offered or sold in the United States or to or for the account or benefit of U.S. persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy such securities in the United States or in any other jurisdiction where such offer is unlawful.
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