11:51 AM EDT, 06/20/2024 (MT Newswires) -- Sagicor Financial ( SGCFF ) said Thursday it raised $250 million as it closed a private placement of 6.359% Series 2024-1 senior unsecured notes due June 20, 2029.

The notes are direct senior unsecured debt of the company and rank equally and ratably with all other senior unsecured and unsubordinated debt of the company from time to time outstanding.

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

The company's shares were last seen down $0.01 to $6.49 on the Toronto Stock Exchange.

Price: 6.49, Change: -0.01, Percent Change: -0.15