04:47 PM EDT, 06/13/2024 (MT Newswires) -- Sagicor Financial ( SGCFF ) Thursday said it priced a Canadian private placement offering of $250 million of 6.359% Series 2024-1 Senior Unsecured Notes due June 20, 2029.

The company said the notes will will rank equally and ratably with all other senior unsecured and unsubordinated indebtedness of the company They are expected to receive credit ratings of BBB from S&P and BBB (low) from Morningstar DBRS.

Sagicor intends to use the net proceeds of the offering to repay amounts owing under the company's term loan facility and related transaction costs.