Transaction|December 9, 2010
IGM Financial announces C$200 million offering of debentures
Torys acted as counsel to the agents with a team that included Philip Mohtadi, Zeynab Ziaie Moayyed, Andrew Wong and Anjali Navkar.
On December 9, 2010, IGM Financial Inc. (TSX: IGM) (IGM) completed the issuance of C$200 million principal amount of debentures. The debentures were offered through a group of agents led by BMO Capital Markets and RBC Capital Markets.
The debentures will be dated December 9, 2010 and will mature December 10, 2040. The debentures will bear interest at a rate of 6.00% per year payable semi-annually in arrears in equal installments on June 10 and December 10 of each year, commencing on June 10, 2011. The debentures have been priced to provide a yield to maturity of 6.019%, and the offering will be made pursuant to a prospectus supplement to IGM's short form base shelf prospectus dated November 18, 2008. The supplement, once filed, will be available on SEDAR.
The net proceeds of the issue will be used by IGM to supplement its financial resources and for general corporate purposes.
IGM Financial is a Canada-based financial services company.
Further information is found on IGM's website.
The debentures will be dated December 9, 2010 and will mature December 10, 2040. The debentures will bear interest at a rate of 6.00% per year payable semi-annually in arrears in equal installments on June 10 and December 10 of each year, commencing on June 10, 2011. The debentures have been priced to provide a yield to maturity of 6.019%, and the offering will be made pursuant to a prospectus supplement to IGM's short form base shelf prospectus dated November 18, 2008. The supplement, once filed, will be available on SEDAR.
The net proceeds of the issue will be used by IGM to supplement its financial resources and for general corporate purposes.
IGM Financial is a Canada-based financial services company.
Further information is found on IGM's website.