Business
Great-West Lifeco announces pricing of US$500 million senior notes offering
Great-West Lifeco announces pricing of US$500 million senior notes offering Canada...
About this update from Great-west Lifeco Inc.
[{"type":"text","content":"\n\n\n\nGreat-West Lifeco announces pricing of US$500 million senior notes 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, MB, Aug. 10, 2020\n\n\n\nTSX:GWO\n WINNIPEG, MB, Aug. 10, 2020 /CNW/ - Great-West Lifeco Inc. today announced that its subsidiary, Great-West Lifeco U.S. Finance 2020, LP (\"GWLP\"), priced an offering of US$500 million aggregate principal amount of 0.904% senior notes due 2025 (the \"Notes\"). The Notes will be fully and unconditionally guaranteed by Great-West Lifeco. \nThe offering is expected to close on August 12, 2020, subject to the satisfaction of customary closing conditions. GWLP intends to use the net proceeds of the offering to finance a portion of the pending acquisition, announced on June 29, 2020, of Personal Capital Corporation, a hybrid wealth manager that combines a leading-edge digital experience with personalized advice delivered by human advisors, and the fees, expenses and costs incurred in connection with the transaction. In the event the transaction is not consummated, GWLP intends to use the net proceeds from this offering for general corporate purposes.\nMorgan Stanley & Co. LLC, Morgan Stanley Canada Limited, J.P. Morgan Securities LLC, RBC Capital Markets, LLC and RBC Dominion Securities Inc. are acting as joint book-running managers for this offering.\nThe Notes are being sold to qualified institutional buyers in the United States in accordance with Rule 144A under the U.S. Securities Act of 1933, as amended (the \"Securities Act\"), and to persons outside the United States in accordance with Regulation S under the Securities Act. The Notes have not been and will not be registered under the Securities Act and may not be offered or sold in the United States absent registration or an applicable exemption from the registration requirements of the Securities Act. The Notes will not be qualified for distribution to the public under the securities laws of any province or territory of Canada and may not be offered or sold in Canada, directly or indirectly, other than pursuant to applicab...