18th May 2021 15:35
RSA Insurance Group PLC - general insurance company headquartered in London - Suitor Intact Financial Corp seals CAD1 billion, about GBP584.4 million, private placement of series 11, 12 and 13 unsecured medium term notes. Proceeds from the private note placing will go towards funding the early redemption of RSA's GBP350 million senior 1.625% notes due August 28, 2024. In mid-November, RSA Insurance agreed to be sold in deal with a two-headed consortium which values insurer at GBP7.2 billion. Deal will see RSA divided between Canada's Intact and Scandinavian insurer Tryg AS.
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By Eric Cunha; [email protected]
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