Desjardins issues $500 million in capital shares - Desjardins caisse members can contribute to the capitalization of their financial cooperative
LÉVIS, QC, Jan. 20, 2014 /CNW Telbec/ - Today, Desjardins is issuing new shares worth $500 million following the success of last year's first issue of $1.5 billion in capital shares.
Offered exclusively to Desjardins caisse members in Québec, these capital shares are issued by the Fédération des caisses Desjardins du Québec and sold through the caisse network. The shares are issued in order to boost the capitalization of the caisses and Desjardins Group.
The capital shares have a par value of $10 and the minimum amount for each subscription is $100. The interest rate is set annually and may not exceed the greater of the average annual yield for 5-year Government of Canada bonds or 4.25%. For caisse members, acquiring these shares represents a long-term investment with good return potential and a great way to achieve healthy portfolio diversification.
Any members interested in acquiring capital shares should speak to their caisse advisor and refer to the prospectus for detailed information on the securities offered.
According to Monique F. Leroux, Chair of the Board, President and CEO of Desjardins Group, "Desjardins ranks among the most stable financial institutions in the world and this is in large part thanks to its capitalization. This advantage also protects the company from economic fluctuations while allowing for growth which benefits its members and clients. Also, acquiring capital shares allows caisse members to show their support towards the development of their cooperative."
About Desjardins Group
Desjardins Group is the leading cooperative financial group in Canada and the fifth largest cooperative financial group in the world with assets of $210 billion. It has been rated one of Canada's top 100 employers by Mediacorp Canada. To meet the diverse needs of its members and clients, Desjardins offers a full range of products and services to individuals and businesses through its extensive distribution network, online platforms and subsidiaries across Canada. The group has one of the highest capital ratios and credit ratings in the industry. It is considered as the fourth safest and strongest bank in North America according to Global Finance magazine and Bloomberg News respectively.
SOURCE Desjardins GroupFor further information:
Information (for journalists only):
Nathalie Genest, Spokesperson
514-281-7275 or 1-866-866-7000, ext. 7275