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Intact Financial Corporation Prices U.S.$500 Million Private Offering of Senior Unsecured Notes
Intact Financial Corporation Prices U.S.$500 Million Private Offering of Senior Unsecured...
About this update from Intact Financial Corporation
[{"type":"text","content":"\n \n \n \n Intact Financial Corporation Prices U.S.$500 Million Private Offering of Senior Unsecured 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 \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n TORONTO\n \n \n ,\n \n \n Sept. 15, 2022\n \n \n /CNW/ - Intact Financial Corporation (TSX: IFC) (\"Intact\" or the \"Company\") announced today that it has successfully priced a private offering of U.S.\n \n $500 million\n \n aggregate principal amount of its 5.459% senior unsecured notes due 2032 (the \"Notes\"). The Notes will be senior unsecured obligations of Intact and will rank equally in right of payment to all of Intact's existing and future senior unsecured indebtedness.\n \n \n The offering is expected to close on\n \n September 22, 2022\n \n , subject to satisfaction of customary closing conditions.\n \n \n Intact intends to use the net proceeds from this offering to repay at maturity the entire outstanding aggregate principal amount of Intact U.S. Holdings, Inc.'s (formerly OneBeacon U.S. Holdings, Inc.) 4.60% senior notes due 2022. Any remaining net proceeds may be used for debt repayment and general corporate purposes.\n \n \n The Notes have not been registered under the U.S. Securities Act of 1933, as amended (the \"Securities Act\"), or the securities laws of any state or other jurisdiction, including\n \n Canada\n \n , and may not be offered or sold in\n \n the United States\n \n or\n \n Canada\n \n absent registration or an applicable exemption from such registration requirements. The Notes will be offered in\n \n the United States\n \n only to persons reasonably believed to be qualified institutional buyers in reliance on the exemption from registration set forth in Rule 144A under the Securities Act and outside\n \n the United States\n \n , including on a private placement basis in\n \n Canada\n \n to \"accredited investors\" who are not individuals and are \"permitted clients\" under applicable Canadian securities laws, in reliance on the exemption from registration set forth in Regulation S under the Securities Act.\n \n \n This press release shall...