IGM Financial closes $600M debenture offering

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By Ted Liu

IGM Financial Inc. (TSX: IGM) has completed the offering of $400 million principal amount of 3.44% debentures due January 26, 2027 and $200 million principal amount of 4.56% debentures due January 25, 2047, through a group of agents led by BMO Capital Markets and RBC Capital Markets.

Blake, Cassels & Graydon LLP and Torys LLP acted as legal counsels to IGM Financial and the underwriters respectively.

IGM Financial intends to use net proceeds to assist its subsidiary, Mackenzie Financial Corporation, to finance a substantial portion of its previously announced acquisitions of a 10% equity interest and a 3.9% equity interest in China Asset Management Co., Ltd.

photo credit: IGM Financial