Desjardins launches up to C$1.2 billion of capital shares

By Cristal Cody

Prospect News, June 18 - Desjardins Group (Aa1/AA-/DBRS: AA-) launched C$1.2 billion of capital shares on Monday to caisse members at C$10 per share to yield no higher than 4.25% plus the Government of Canada benchmark.

Desjardins said in a news release that it offered the shares to maintain its strong capitalization level to the financial cooperative members.

Additional information was not immediately available.

Desjardins said that since 1989, members have subscribed for $2.1 billion in shares to help the financial institution meet its capitalization needs.

Levis, Quebec-based Desjardins Group is the leading cooperative financial group in Canada.

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