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iA Financial Group Announces Offering of $250 million of Limited Recourse Capital Notes
iA Financial Group Announces Offering of $250 million of Limited Recourse Capital Notes ...
About this update from Ia Financial Corporation Inc.
[{"type":"text","content":"\n \n \n \n iA Financial Group Announces Offering of $250 million of Limited Recourse Capital Notes\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.prnsbbb1{\nBORDER-BOTTOM:black 1pt\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n.prnsblb1{\nBORDER-LEFT:black 1pt\n}\n.prnsbtb1{\nBORDER-TOP:black 1pt\n}\n.prnpr2{\nPADDING-RIGHT:0.17em\n}\n.prnbcc{\nBORDER-COLLAPSE: COLLAPSE; BORDER-TOP:1pt black; BORDER-RIGHT:1pt black; BORDER-BOTTOM:1pt black; BORDER-LEFT:1pt black\n}\n.prnrbrb1{\nBORDER-RIGHT:black 1pt\n}\n.prnpl2{\nPADDING-LEFT:0.17em\n}\n.prnml4{\nMARGIN-TOP:0em; MARGIN-RIGHT:0em; MARGIN-BOTTOM:0em; MARGIN-LEFT:0.33em !IMPORTANT\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n /Not for distribution to U.S. newswire services or for dissemination in\n \n the United States\n \n /\n \n \n \n \n \n \n QUEBEC\n \n \n ,\n \n \n May 25, 2022\n \n \n /CNW Telbec/ - iA Financial Corporation Inc. (the \"\n \n Company\n \n \") announced today that it intends to issue\n \n $250 million\n \n aggregate principal amount of 6.611% Limited Recourse Capital Notes Series 2022‑1 (Subordinated Indebtedness) (the \"\n \n Notes\n \n \") due\n \n June 30\n \n , 2082 (the \"\n \n Offering\n \n \").\n \n \n The Offering is expected to close on or about\n \n June 1, 2022\n \n . The Company intends to use the net proceeds from the sale of the Notes for general corporate purposes, which may include investments in subsidiaries and repayment of indebtedness.\n \n \n The Notes will mature on\n \n June 30, 2082\n \n . Interest on the Notes at the rate of 6.611% per annum will be payable in semi-annual installments in arrears on June 30 and\n \n December 31\n \n in each year, commencing on December 31, 2022 and continuing until\n \n June 30, 2027\n \n . Starting on\n \n June 30, 2027\n \n and on every fifth anniversary of such date thereafter until\n \n June 30, 2077\n \n (each such date an \"\n \n Interest Reset Date\n \n \"), the interest rate on the Notes will be reset at an interest rate per annum equal to the prevailing 5-year Government of Canada Yield on the business da...