Intact Financial Corp. (IFC.TO) said Friday that it has closed its $200 million offering of medium term notes.
The Notes will bear interest at a fixed annual rate of 5.16% until maturity on June 16, 2042.
Intact Financial plans to use the net proceeds from the offering towards reducing its current term loan indebtedness under its existing credit facility and funding a portion of the purchase price for its previously announced acquisition of all of the issued and outstanding shares of JEVCO Insurance Co. from The Westaim Corp.
The closing of the acquisition is expected to occur in the fall of 2012.The offering is not conditional upon closing of the acquisition; if the acquisition is not completed, the net proceeds from the offering will be used to repay the term loan indebtedness outstanding under the company's existing credit facility and for general corporate purposes.
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June 05, 2026 16:18 ET A busy week for economic news flow saw a slew of reports being released that reflected the trends in the U.S. labor market. In Europe, economic growth and inflation data gained attention as the European Central Bank and Bank of England head for policy session later in the month. In Asia, the monetary policy session of the Indian central bank was in focus as the country, a major oil importer, reels under the pressures of a weaker rupee and rising inflation.