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Sagicor Financial Closes C$250 Million Private Placement Notes Offering
Sagicor Financial Closes C$250 Million Private Placement Notes Offering Canada NewsWire...
About this update from Sagicor Financial Co. Ltd. Class A
[{"type":"text","content":"\n\n \n \n \n Sagicor Financial Closes C$250 Million Private Placement Notes Offering\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n NOT FOR RELEASE IN\n \n THE UNITED STATES\n \n \n \n \n \n \n TORONTO\n \n and\n \n BARBADOS\n \n \n ,\n \n \n June 20, 2024\n \n \n /CNW/ - Sagicor Financial Company Ltd. (TSX: SFC) (\"Sagicor Financial\" or \"Sagicor\" or the \"Company\") today announced that it has closed its previously announced Canadian private placement offering (the \"Offering\") of\n \n C$250 million\n \n aggregate principal amount of 6.359% Series 2024-1 Senior Unsecured Notes due\n \n June 20, 2029\n \n (the \"Notes\"). The Notes are direct senior unsecured indebtedness of the Company and rank equally and ratably with all other senior unsecured and unsubordinated indebtedness of the Company from time to time outstanding.\n \n \n The Notes received credit ratings of BBB from S&P and BBB (low) from Morningstar DBRS.\n \n \n Sagicor intends to use the net proceeds of the Offering to repay amounts owing under the Company's term loan facility (which was incurred to fund a portion of the purchase price for the acquisition of ivari) and related transaction costs.\n \n \n The Notes were offered on a private placement basis through a syndicate of agents co-led by National Bank Financial Markets and RBC Capital Markets, supported by BMO Capital Markets, Scotia Capital Inc., J.P. Morgan and Citigroup Global Markets Canada Inc. in reliance on exemptions from the prospectus requirements under applicable securities laws in certain provinces of\n \n Canada\n \n . The Notes have not been qualified for sale to the public under applicable securities laws in\n \n Canada\n \n .\n \n \n This news release does not constitute an offer to sell or the solicitation of an offer to buy the Notes or any other securities of Sagicor in any jurisdiction, and is not an offer for sale within\n \n the United States\n \n of any securities of Sagicor. Securities of Sagicor, including any debt securities, may not be off...