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RSS FeedsEquitable Group Redeems $65 Million of Series 10 Debentures
(WorldNews Canada)

 
 

24 october 2017 00:02:00

 
Equitable Group Redeems $65 Million of Series 10 Debentures
(WorldNews Canada)
 


TORONTO, Oct. 23, 2017/CNW/ - Equitable Group Inc. (TSX: EQB and EQB.PR.C) (`Equitable` or the `Company`) today announced it has redeemed $65 millionof outstanding 5.399% Series 10 Debentures due October 24, 2022as planned and with the approval of the Office of the Superintendent of Financial Institutions. The redemption was made at par plus accrued interest to, but excluding, the redemption date for the entire current principal amount outstanding. The redemption reduces interest expense by approximately $2 millionper year beginning in 2018 and results in an approximate 90 basis point reduction in the total capital ratio of Equitable Bank (the wholly owned subsidiary of Equitable, `The...


 
7 viewsCategory: General > North America > Canada
 
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