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Intact Financial Corporation Announces Redemption Price for Series 4 Unsecured Medium Term Notes due August 18, 2021
Intact Financial Corporation Announces Redemption Price for Series 4 Unsecured Medium Ter...
About this update from Intact Financial Corporation
[{"type":"text","content":"\n \n \n \n Intact Financial Corporation Announces Redemption Price for Series 4 Unsecured Medium Term Notes due August 18, 2021\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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n TORONTO\n \n ,\n \n June 14, 2021\n \n /CNW/ - Intact Financial Corporation (TSX: IFC) (\"Intact\" or the \"Company\") announced on\n \n May 18, 2021\n \n that it would redeem all of its outstanding\n \n $300 million\n \n Series 4 unsecured medium term notes due\n \n August 18, 2021\n \n (the \"Series 4 Notes\") on\n \n June 17, 2021\n \n (the \"Redemption Date\"), prior to maturity. Today, the Company has determined the redemption price according to the method and process outlined in the trust indenture governing the Series 4 Notes.\n \n \n Pursuant to the terms of the trust indenture governing the Series 4 Notes, the Series 4 Notes will be redeemed on the Redemption Date at a price equal to the greater of the \"Canada Yield Price\" and par, together in each case with accrued and unpaid interest to, but excluding, the Redemption Date. The Canada Yield Price, calculated today in accordance with the governing trust indenture, is\n \n $1,007.04\n \n per\n \n $1,000\n \n of principal amount of Series 4 Notes. Accordingly, all of the outstanding Series 4 Notes will be redeemed on the Redemption Date at a price of\n \n $1,007.04\n \n per\n \n $1,000\n \n of principal amount of Series 4 Notes, plus approximately\n \n $15.32\n \n per\n \n $1,000\n \n of principal amount of Series 4 Notes for accrued and unpaid interest up to, but excluding, the Redemption Date of\n \n June 17, 2021\n \n . The aggregate redemption price payable by the Company on such date, including accrued and unpaid interest, is\n \n $306,708,986.30\n \n .\n \n \n Additional terms and conditions regarding the redemption are contained in the notice of redemption that was provided to CDS Clearing and Depository Services Inc. (\"CDS\"), the sole registered holder of the Series 4 Notes. Non-registered holders who maintain their interests in the Series 4 Notes through CDS should contact their...