Intact Financial Corporation Completes C$250 Million Medium Term Note Offering
On March 1, 2016, Intact Financial Corporation (the “Company”) (TSX: IFC) completed an issuance of C$250 million principal amount of Series 6 medium term notes (the “Notes”). The Notes were offered on a best efforts basis through a syndicate of dealers co-led by TD Securities Inc. and CIBC World Markets Inc. and including Scotia Capital Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc., RBC Dominion Securities Inc. and Casgrain & Company Limited. The Notes are direct unsecured obligations of IFC and rank equally with all other unsecured and unsubordinated indebtedness of IFC. The Notes bear interest at a fixed annual rate of 3.77% until maturity on March 2, 2026. Net proceeds of the offering will be used for general corporate purposes.
IFC was advised by a team of Fasken Martineau lawyers led by John Sabetti (corporate/securities) and including Justine Connors (corporate/securities) and Mitchell Thaw (tax), with assistance from student-at-law Valerie Eisen.