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ATB’s new GIC now available to investors
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- m S( y6 R3 u6 ]$ [. r* Qedmontonjournal.comSeptember 1, 2009Comments (1)
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EDMONTON — Tuesday marked the first day investors could purchase a new GIC that ATB Financial says will help fellow Albertans and businesses hurting due to tight credit markets.+ N z% ]# O6 J B7 ]6 }
! G3 ^3 e' C Y; e, ^) p) S EThe ATB Growth Note will be a five-year guaranteed investment certificate with a 4.25-per-cent interest rate, announced the provincial Crown corporation and Edmonton-based financial institution on Tuesday.# k0 k& j0 F- L4 L% J9 m$ d
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The initiative was first revealed in July as part of a commitment by ATB to increase its lending capacity to small business to offset the effects of tight credit markets by as much as $15 billion. Changes to ATB’s notional capital requirements will increase its lending capacity by about $8 billion and the investment deposit product would raise another $7 billion, ATB said at the time.
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Funds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.$ T3 I+ M& ~" G* H2 |8 w
, U3 |5 s! | ]! n( X8 q“For the first time, we are offering every Albertan a great opportunity to invest directly in Alberta,” said Dave Mowat, ATB president and CEO.
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“Every dollar invested in an ATB Alberta Growth Note will be put to work, building Alberta’s economy and helping businesses grow.”
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The GICs will be available for a limited time only. |
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