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E-L Financial Corporation Limited Announces $200 Million Offering of 4.000% Senior Unsecured Notes Due June 22, 2050
E-L Financial Corporation Limited Announces $200 Million Offering of 4.000% Senior Unsecur...
About this update from E-l Financial Corporation Limited
[{"type":"text","content":"\n\n\n\nE-L Financial Corporation Limited Announces $200 Million Offering of 4.000% Senior Unsecured Notes Due June 22, 2050\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.prntal{\nTEXT-ALIGN: LEFT\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, June 17, 2020\n\n\n\n\n \n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./ \n TORONTO, June 17, 2020 E-L Financial Corporation Limited (TSX :ELF) (TSX: ELF.PR.F) (TSX: ELF.PR.G) (TSX: ELF.PR.H) (the \"Company\") announced today that it intends to issue in Canada, by way of private placement, $200 million principal amount of 4.000% senior unsecured notes due June 22, 2050 (the \"Notes\"). \nThe offering is expected to close June 22, 2020. The net proceeds of the issue will be used for general corporate purposes. \nThe Notes will mature on June 22, 2050 and will bear interest at an annual rate of 4.000% calculated and payable semi-annually in arrears on June 22 and December 22 of each year commencing December 22, 2020 and ending June 22, 2050. It is a condition of the closing of the offering  that the Notes be assigned a rating of at least \"A\" by S&P Global Ratings.\nThe issue will be offered on an agency basis by a syndicate of dealers, co-led by Scotia Capital Inc. and CIBC World Markets Inc., and which includes BMO Nesbitt Burns Inc., National Bank Financial Inc., RBC Dominion Securities Inc. and TD Securities Inc.\nNotice\nThe Notes have not been and will not be registered under the United States Securities Act of 1933, as amended, or any state securities laws of any of the United States, and may not be offered, or sold or delivered directly or indirectly within the United States of America or to or for the account of U.S. persons (as such terms are defined in Regulation S under the U.S. Securities Act). This press release does not constitute an offer to sell or a solicitation to buy such securities in the United States.\nAbout E-L Financial Corporation Limited\nThe Company operates as an investment and insurance holding company. In managing its operations, the Company distinguishes betw...