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FINWIRES

Great-West Lifeco Prices 500-Million Euro Bonds Offering

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Great-West Lifeco (GWO.TO) has priced its 500 million euro bonds offering, the company said on Tuesday.

The seven-year bonds will pay an annual coupon of 3.625% and are priced at 99.575% of par. They are expected to be rated A+ by S&P Global Ratings and A by Fitch Ratings, a statement said.

The offer is expected to close on July 7. Great-West will apply for the bonds to be listed on the Global Exchange Market of the Irish Stock Exchange.

Proceeds will be used for general corporate purposes, and may include redeeming Great-West's 500 million euro bonds maturing in December 2026.

This is the company's fourth debt issue in the euro market.

Great-West shares were last seen up $1.48, 0r 1.7%, to $90.18, on the Toronto Stock Exchange.

Price: $90.18, Change: $+1.46, Percent Change: +1.65%

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