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Great-West Lifeco Announces Debenture Offering
Great-West Lifeco Announces Debenture Offering Canada NewsWire WINNIPEG, May 12,...
About this update from Great-west Lifeco Inc.
[{"type":"text","content":"\n\n\n\nGreat-West Lifeco Announces Debenture Offering\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\nCanada NewsWire\nWINNIPEG, May 12, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES./\n WINNIPEG, May 12, 2020 /CNW/ - Great-West Lifeco Inc. (Lifeco) announced today that it has entered into an agreement with a syndicate of agents led by RBC Capital Markets, Scotiabank and BMO Capital Markets for the sale on an agency basis of $600 million aggregate principal amount of debentures maturing May 14, 2030 (the Debentures).\nThe Debentures will be dated May 14, 2020, will be issued at par and will mature on May 14, 2030. Interest on the Debentures at the rate of 2.379% per annum will be payable semi-annually in arrears on May 14 and November 14 in each year, commencing November 14, 2020, until the date on which the Debentures are repaid. The Debentures are redeemable at any time prior to February 14, 2030 in whole or in part at the greater of the Canada Yield Price and par, and on or after February 14, 2030 in whole or in part at par, together in each case with accrued and unpaid interest. \nThe Debenture offering is expected to close on or about May 14, 2020. The net proceeds will be used by Lifeco to repay upcoming long-term debt maturities and for general corporate purposes.\nThe Debentures have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements. This news release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the Debentures in any State in which such offer, solicitation or sale would be unlawful.\nAbout Great-West Lifeco Inc.Great-West Lifeco Inc. is an international financial services holding company with interests in life insurance, health insurance, retirement and investment s...