IGM Financial Inc.

IGM Financial Inc.

December 06, 2010 17:29 ET

IGM Financial Inc. Announces the Pricing of $200 Million 30 Year Debentures

WINNIPEG, MANITOBA--(Marketwire - Dec. 6, 2010) -


IGM Financial Inc. (IGM) (TSX:IGM) announced today that it has priced the issuance of $200 million principal amount of debentures. The debentures will be offered through a group of agents to be led by BMO Capital Markets and RBC Capital Markets.

The Debentures will be dated December 9, 2010 and will mature December 10, 2040. These debentures will bear interest at a rate of 6.00 per cent per annum payable semi-annually in arrears in equal installments on June 10 and December 10 of each year, commencing on June 10, 2011. The Debentures have been priced to provide a yield to maturity of 6.019 percent.

The senior unsecured credit rating for IGM assigned by S&P is A+ and by DBRS is A (High).

The expected closing date for the issue is December 9, 2010. The net proceeds of the issue will be used by IGM to supplement its financial resources and for general corporate purposes

The offering will be made pursuant to a prospectus supplement to IGM's short form base shelf prospectus dated November 18, 2008. The supplement, once filed, will be available on SEDAR at www.sedar.com.

The securities offered have not been registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or any applicable exemption from the registration requirements. This press release shall not constitute an offer to sell or the solicitation of an offer to buy nor shall there be any sale of the securities in any State in which such offer, solicitation or sale would be unlawful.

IGM Financial Inc. is one of Canada's premier personal financial services companies, and one of the country's largest managers and distributors of mutual funds and other managed asset products, with over $125 billion in total assets under management as of November 30, 2010. Its activities are carried out principally through Investors Group, Mackenzie Financial Corporation and Investment Planning Counsel. IGM Financial Inc. is a member of the Power Financial Corporation group of companies.

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