Sodexo Canada: The global leader who believes the difference a day makes
Founded in Marseille in 1966, and now operating in 53 countries, Sodexo provides facilities services that drive positive
Barclay Restorations DKI: The longest running insurance restoration company in Greater Vancouver
Locally owned-and operated and serving Metro Vancouver and the Fraser Valley, Barclay Restorations DKI is a full-service restoration CDW Canada: Helping small businesses use IT security to prepare, defend, and respond
Established in 2003, CDW Canada is a leading provider of technology solutions for business, government, education, and healthcare, Stamped Engineering Corporation: High quality, fit for purpose engineering services
Specializing in design engineering that is customized to the needs of the client, Stamped Engineering Corporation is a Alpine Building Maintenance: Customized cleaning solutions
Founded in 1980 in the interior of British Columbia, family-owned building services company Alpine Building Maintenance has evolved Case Design/Remodeling Halifax: Flawless design and execution
With two decades of experience, Case Design/Remodeling is a design-build renovation, remodeling, project and construction management team serving Weston Wood Solutions: One of Canada’s fastest growing companies
An innovative supplier of lumber and engineered wood products to window and door manufacturers in the Americas, Europe CDW Canada: Helping organizations navigate a complex IT market
Established in 2003, CDW Canada is a leading provider of technology solutions for business, government, education, and healthcare,-
Reclaiming Canada’s key service export: Tourism
Tourism is an increasingly dynamic sector of the global economy; pre-2019 tourism was a $1.4 trillion industry generating Concerning signs for Canada’s construction sector in 2023
Coming into 2022, construction contractors had never been more optimistic about the state of the industry. Independent Contractors Strengthening your organization through sustainability & ESG
It’s no secret that organizations are increasingly feeling the pressure to respond to social and environmental imperatives. More 55% of provincial healthcare budgets will be for seniors by 2030
Canada’s straining health care system is dominating headlines, as provinces pit themselves against the federal government in a Spymasters, conspiracies, the PRC, & Dong Jingwei
The tensions currently exposed between the People’s Republic of China (PRC) and the United States, let alone the Digital transformations on the wrong end of the stick
There’s a growing body of evidence demonstrating technology-led digital transformations are overpromising and under-delivering returns on investment for It’s impossible to tackle climate change without nuclear
The task of tackling climate change is mammoth. It requires an ‘all-in’ approach among Canada’s business leaders, governments, Inflation: Demand creates its own supply
The point has to be made that while we clearly have a stickier inflation situation on our hands,
Intact Financial Corporation Completes $425 million Medium Term Note Offering
Intact Financial Corporation (TSX:IFC) (“IFC” or the “Company”) announced that it has closed its previously announced $425 million offering of Series 7 unsecured medium term notes due June 7, 2027 (the “Notes”).
The Notes were offered on a best efforts basis through a syndicate co-led by CIBC World Markets Inc., National Bank Financial Inc. and TD Securities Inc. The Notes are direct unsecured obligations of IFC and rank equally with all other unsecured and unsubordinated indebtedness of IFC. The Notes will bear interest at a fixed annual rate of 2.85% until maturity on June 7, 2027. The net proceeds from this offering of Notes will be used to partially fund the purchase price for the acquisition (the “Acquisition”) of all of the issued and outstanding shares of OneBeacon Insurance Group, Ltd. (“OneBeacon”) pursuant to an Agreement and Plan of Merger (the “Acquisition Agreement”) among OneBeacon, IFC and two wholly-owned subsidiaries of IFC. The closing of the Acquisition is expected to occur in the fourth quarter of 2017.
If (i) IFC does not consummate the Acquisition on or prior to March 31, 2018 (the “Special Mandatory Redemption Triggering Date”) or (ii) the Acquisition Agreement is terminated at any time prior to the Special Mandatory Redemption Triggering Date, then IFC will be required to redeem the Notes at a redemption price equal to 101% of the aggregate principal amount of the Notes, plus accrued and unpaid interest, if any, up to, but excluding, the date of redemption.
The Notes have been given a rating of A with a Stable trend by DBRS Limited, a rating of Baa1 with a Stable outlook by Moody’s Investors Service, Inc. and a rating of A- with a Stable trend by Fitch Ratings Inc.
The securities have not been and will not be registered under the U.S. Securities Act of 1933, as amended (“U.S. Securities Act”), and may not be offered or sold in the United States or to or for the account or benefit of U.S. persons absent registration or an applicable exemption from the registration requirements of the U.S. Securities Act. This press release shall not constitute an offer to sell or the solicitation of an offer to buy such securities in the United States or in any other jurisdiction where such offer is unlawful.
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