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Intact Financial Corporation Announces $300 Million Medium Term Note Offering
Intact Financial Corporation Announces $300 Million Medium Term Note Offering Cana...
About this update from Intact Financial Corporation
[{"type":"text","content":"\n\n\n\nIntact Financial Corporation Announces $300 Million Medium Term Note 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.prntac{\nTEXT-ALIGN: CENTER\n}\n\n\n\n\n\n\n\nCanada NewsWire\nTORONTO, March 20, 2020\n\n\n\n/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/\n TORONTO, March 20, 2020 /CNW/ - Intact Financial Corporation (TSX: IFC) (\"IFC\" or the \"Company\") announced today that it intends to issue $300 million principal amount of Series 8 unsecured medium term notes (the \"Notes\"). The Notes will be direct unsecured obligations of IFC and will rank equally with all other unsecured and unsubordinated indebtedness of IFC. The Notes will bear interest at a fixed annual rate of 3.691% until maturity on March 24, 2025. \nThe net proceeds from this offering of Notes will be used for general corporate purposes.\nChief Financial Officer Louis Marcotte commented, \"During this COVID-19 crisis our employees, brokers and customers are our priority. Our operations are strong and our robust infrastructure means we are open for business and ready to serve customers across North America. At the same time, we have taken a prudent step to enhance our financial flexibility with this medium term note offering.\" \nFor updates on the Company's initiatives to ensure employee safety and support our customers please refer to intactfc.com/covid19.\nThe Notes, offered on a best efforts basis through a syndicate co-led by CIBC World Markets Inc. and TD Securities Inc., are expected to be issued on or about March 24, 2020. Details of the offering will be set out in a pricing supplement (to IFC's short form base shelf prospectus and prospectus supplement, each dated December 13, 2019), which IFC intends to file with the securities regulatory authorities in each of the provinces and territories of Canada and which will be available under IFC's profile on the SEDAR website at www.sedar.com.\nThe securities to be offered have not been and will not be registered under the U.S. Securities Act of 1933, ...