TORONTO and BARBADOS, June 11, 2021 /CNW/ – Sagicor Monetary Firm Ltd. (“Sagicor” or the “Firm”) right this moment introduced that its subsidiary, Sagicor Finance (2015) Restricted, has issued a discover of redemption in respect of its 8.875% Senior Notes due 2022 (the “2022 Notes“). The Firm expects that the 2022 Notes shall be redeemed on August 11, 2021 pursuant to the phrases of the word indenture governing the 2022 Notes at an mixture redemption value of roughly US$188 million (being 100% of the remaining principal quantity of the 2022 Notes being redeemed plus accrued and unpaid curiosity thereon). As beforehand introduced, the redemption value is anticipated to be funded from the proceeds of the Firm’s beforehand accomplished providing of US$400 million of 5.300% Senior Notes due Could 13, 2028. Proceeds from the brand new providing have been additionally used to repurchase roughly US$130 million principal quantity of the 2022 Notes in Could 2021.
About Sagicor Monetary Firm Ltd.
Sagicor Monetary Firm Ltd. (TSX: SFC) is a number one monetary providers supplier within the Caribbean, with over 180 years of historical past, and has a rising presence as a supplier of life insurance coverage merchandise in the USA. Sagicor presents a variety of services, together with life, well being, and common insurance coverage, banking, pensions, annuities, and actual property. Sagicor’s registered workplace is positioned at Clarendon Home, 2 Church Avenue, Hamilton, HM 11, Bermuda, with its principal workplace positioned at Cecil F De Caires Constructing, Wildey, St. Michael, Barbados. Further details about Sagicor may be obtained by visiting www.sagicor.com.
Sure data contained on this information launch could also be forward-looking statements inside the which means of Canadian securities legal guidelines. Ahead-looking statements are sometimes, however not at all times recognized by way of phrases corresponding to “anticipate”, “anticipate”, “consider”, “foresee”, “might”, “estimate”, “objective”, “intend”, “plan”, “search”, “will”, “could”, “would” and “ought to” and related expressions or phrases suggesting future outcomes. This information launch consists of forward-looking data and statements. These forward-looking statements mirror materials elements and expectations and assumptions of Sagicor. Sagicor’s estimates, beliefs and assumptions are inherently topic to uncertainties and contingencies concerning future occasions and as such, are topic to vary. Dangers and uncertainties not presently identified to Sagicor or that it presently believes aren’t materials might trigger precise outcomes or occasions to vary materially from these expressed in its forward-looking statements. Further data on these and different elements that would have an effect on occasions and outcomes are included in different paperwork and stories that shall be filed by Sagicor with relevant securities regulatory authorities and could also be accessed by way of the SEDAR web site (www.sedar.com). Readers are cautioned to not place undue reliance on these forward-looking statements, which mirror Sagicor’s expectations solely as of the date of this doc. Sagicor disclaims any obligation to replace or revise any forward-looking statements, whether or not on account of new data, future occasions or in any other case, besides as expressly required by legislation.
SOURCE Sagicor Monetary Firm Ltd.
View authentic content material: http://www.newswire.ca/en/releases/archive/June2021/11/c9860.html