Empire Life Insurance sells C$300 mln of debt -term sheet

Fri May 24, 2013 1:53pm EDT
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May 24 (Reuters) - Empire Life Insurance Co on Friday sold C$300 million ($291 million) of notes due May 31, 2023, according a term sheet seen by Reuters.

The 2.87 percent notes were priced at par to yield 147.1 basis points over the Canadian government benchmark.

The issue has early redemption date of May 31, 2018.

The investment dealer arms of Royal Bank of Canada, and Toronto-Dominion Bank were the bookrunning managers of the sale. ($1=C$1.03).