Intact completes additional medium term note offering
March 23, 2010
/THIS PRESS RELEASE MAY NOT BE PUBLISHED, DISTRIBUTED OR TRANSMITTED IN OR INTO THE UNITED STATES OR OVER UNITED STATES WIRE OR NEWS SERVICES./
TORONTO, March 23 /CNW/ - Intact Financial Corporation (TSX: IFC) announced today that it has completed its previously announced offering of an additional $100 million principal amount of Series 2 6.40% unsecured medium term notes (the "Notes") pursuant to its medium term note program. The Notes will bear interest at a fixed annual rate of 6.40% until maturity on November 23, 2039. IFC now has $250 million of Series 2 6.40% unsecured medium term notes outstanding. Details of the offering are set out in pricing supplement No. 3 which is available on the SEDAR website for IFC at www.sedar.com. The Notes were offered on a best efforts basis by CIBC World Markets and TD Securities Inc. The net proceeds of the offering will be used by IFC for general corporate and investment purposes.
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 Notes in the United States.
About Intact Financial Corporation
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.
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