Intact to Issue $150 Million Unsecured Notes

Intact Financial Corporation (TSX: IFC) announced today that it intends to issue $150 million principal amount of unsecured notes pursuant to its medium term note program. 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 6.4% until maturity on November 23, 2039. The net proceeds of the offering will be used by IFC for general corporate and investment purposes.

 

The notes, to be offered on a best efforts basis through an agency syndicate led by CIBC World Markets Inc. and TD Securities Inc., are expected to be issued on November 23, 2009. Details of the offering will be set out in a pricing supplement which IFC intends to file in Canada and which will be available on the SEDAR website for IFC at www.sedar.com.

 

The notes have not been and will not be registered in the United States under the Securities Act of 1933, as amended, and may not be offered, sold or delivered in the United States or to U. S. Persons absent registration or applicable exemption from the registration requirement of such Act. This press release does not constitute an offer to sell or a solicitation to buy the medium term notes in the United States.

 

Intact Financial Corporation (www.intactfc.com) is the largest provider of property and casualty insurance in the country with over $4 billion in premiums. Its 7,000 employees offer home, auto and business insurance under the Intact Insurance, Novex Group Insurance, belairdirect and Grey Power brands.

 

Certain of the statements included in this press release constitute forward-looking statements. The words “may”, “will”, “would”, “should”, “could”, “expects”, “plans”, “intends”, “anticipates”, “believes”, “estimates”, “predicts”, “likely” or “potential” or the negative or other variations of these words or other comparable words or phrases, are intended to identify forward-looking statements. Readers should not place undue reliance on the forward-looking statements made herein. IFC has no intention and undertakes no obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by law.