LÉVIS, QC, Jan. 28, 2013 /CNW Telbec/ - Sales of the new capital shares
of the Fédération des caisses Desjardins du Québec, issued last June,
has reached $1 billion.
This issue of capital shares, which could easily reach $1.2 billion, was
a first in the financial cooperative world, particularly due to its
scale, and because it was conducted in compliance with the new Basel
III regulatory requirements on capital. This share issue enables
Desjardins to reinforce its strategic development and strengthen its
"It's a tremendous success that indicates the relevance of this
investment product. Among other things, this financial vehicle allows
Desjardins members to diversify their portfolios even further, which is
a smart investment strategy. For Desjardins, this product represents an
innovative means of capitalization," beams Marc Laplante, Senior
Executive Vice-President, Desjardins Group and Federation Management.
The capital shares have a nominal value of $10 and the minimum
subscription amount is $100. The interest rate will be determined
annually and will not exceed: a) the average annual yield of five-year
Government of Canada Bonds; or b) 4.25%, whichever is the highest.
Since 1989, Desjardins caisse members have acquired shares issued by the
caisses and the Federation, totaling $3.3 billion, toward the
capitalization of their financial institution.
About Desjardins Group
Desjardins Group is the leading cooperative financial group in Canada with assets of
nearly $200 billion. Drawing on the strength of its caisse network in
Québec and Ontario and its subsidiaries across Canada, it offers a full
range of financial products and services to its 5.6 million members and
clients. Desjardins specializes in Wealth Management and Life and
Health Insurance, in Property and Casualty Insurance, in Personal
Services, in Business and Institutional Services. Best Corporate Citizen in Canada for 2012 and among Canada's Top 100 Employers, Desjardins is supported by the skills of its 44,645 employees and the
commitment of nearly 5,400 elected officers. A new education and
cooperation program is now available to Desjardins members and the
general public. For more information, visit www.desjardins.com/co-opme.
SOURCE: DESJARDINS GROUP
For further information:
(for media only)
Nathalie Genest, spokesperson
514-281-7275 or 1 866 866-7000, ext. 7275