IGM Financial Inc. completes $250 million debenture offering

Torys acted as counsel to the syndicate of agents led by BMO Capital Markets and RBC Capital Markets with a team that included David Seville, Justin Crawford and Parker Baglole (corporate/securities).

On March 20, 2019, IGM Financial Inc. ("IGM Financial") announced the completion of its previously announced offering of $250 million principal amount of 4.206% debentures due March 21, 2050.

The debentures were offered through a group of agents led by BMO Capital Markets and RBC Capital Markets.

The net proceeds of the offering will be used by IGM Financial to fund the intended redemption of all six million of its issued and outstanding 5.90% non-cumulative first preferred shares, Series B and for general corporate purposes.

IGM Financial is one of Canada's premier personal financial services companies, and one of the country's largest managers and distributors of mutual funds and other managed asset products, with approximately $158 billion in total assets under management as of February 28, 2019.

Further information can be found on Canada Newswire's website.