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Sagicor Financial Company Ltd. Announces Additional Offering of 5.300% Senior Notes Due 2028
Sagicor Financial Company Ltd. Announces Additional Offering of 5.300% Senior Notes Due 2...
About this update from Sagicor Financial Co. Ltd. Class A
[{"type":"text","content":"\n \n \n \n Sagicor Financial Company Ltd. Announces Additional Offering of 5.300% Senior Notes Due 2028\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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n TORONTO and\n \n BARBADOS\n \n ,\n \n Dec. 8, 2021\n \n /CNW/ - Sagicor Financial Company Ltd. (\"\n \n Sagicor\n \n \" or the\n \n \"Company\"\n \n ) announced today that it proposes an additional offering of\n \n US$150 million\n \n of 5.300% Senior Notes due 2028 (the \"\n \n Additional Notes\n \n \"). The Company, and Sagicor Life Inc. as guarantor, have entered into a note purchase agreement with J.P. Morgan Securities LLC and RBC Capital Markets, LLC as representatives of the several initial purchasers party thereto, in connection with the issuance of the Additional Notes. The offering of Additional Notes represents a re-opening of the\n \n US$400 million\n \n of 5.300% Senior Notes Due\n \n May 13, 2028\n \n (the\n \n \"Initial Notes\"\n \n ), which closed in\n \n May 2021\n \n . The Additional Notes will be subject to the same terms and conditions as the Initial Notes.  The Company expects to settle the Additional Notes offering on or about\n \n December 15, 2021\n \n , subject to the satisfaction of the conditions of closing thereto. The Company intends to use all of the net proceeds from this offering for general corporate purposes, including, but not limited to supporting the growth in its U.S. business.\n \n \n The Additional Notes would only be offered to \"qualified institutional buyers\" as defined in Rule 144A under the U.S. Securities Act of 1933, as amended (the \"\n \n Act\n \n \"), or to non-U.S. persons in \"offshore transactions\" outside\n \n the United States\n \n in accordance with Regulation S thereunder and applicable local securities laws. The securities have not been and will not be registered under the Act, any Canadian securities laws, any state securities laws or any securities laws of any other jurisdiction.  The Additional Notes may not be offered or sold in\n \n the United States\n \n or to U.S. persons absent registration or an a...