Intact Financial (TSE:IFC) has released an update.
Intact Financial Corporation has announced a private placement to issue $300 million in Series 15 unsecured medium term notes to accredited investors, with a fixed interest rate until 2029, then variable until maturity in 2034. The proceeds are aimed at repaying outstanding debts due in May 2024. The offering, not available in the U.S., is led by CIBC and BMO Capital Markets and is expected to close around May 16, 2024.
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