By Cristal Cody
Eureka Springs, Ark., Jan. 26 – Power Corp. of Canada priced C$250 million of 4.81% 30-year debentures at par on Thursday, according to a news release.
The debentures (/A/DBRS: A) are due Jan. 31, 2047.
BMO Capital Markets Corp., Scotia Capital Inc. and RBC Capital Markets (Canada) Ltd. were the lead managers.
The proceeds will be used to finance the purchase price of the previously announced acquisition of an additional 3.9% equity interest in China Asset Management Co., Ltd. and for general corporate purposes.
Power Corp. of Canada is a Montreal-based management and holding company with investments in companies in the financial services, communications and other business sectors in North America, Europe and Asia.
| Issuer: | Power Corp. of Canada
|
| Amount: | C$250 million
|
| Maturity: | Jan. 31, 2047
|
| Securities: | Debentures
|
| Bookrunners: | BMO Capital Markets Corp., Scotia Capital Inc., RBC Capital Markets (Canada) Ltd
|
| Coupon: | 4.81%
|
| Price: | Par
|
| Yield: | 4.81%
|
| Pricing date: | Jan. 26
|
| Settlement date: | Jan. 31
|
| Ratings: | S&P: A
|
| DBRS: A
|
| Distribution: | Canada
|
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