 鲜花( 0)  鸡蛋( 0)
|
ATB’s new GIC now available to investors" a0 Q( w! r% S
7 `! I3 @6 d, c! t# _( i
( p! d' A2 }0 T+ e; y7 {* o- O
edmontonjournal.comSeptember 1, 2009Comments (1)$ v3 M% Y6 h: m& |1 V9 ~2 e2 g
% r+ [4 n% n l; A2 ` ( C h# a6 j+ t% Q$ e! r3 n" A% M8 i
) }0 f/ J, |2 y, `$ k
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.- P3 t1 P$ |1 Q
' \0 y; B, B( {/ z# F
The 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.
* L: u d. G, L% z9 ~/ X, R d F+ z2 ?$ `) D( _2 M% e
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.
; L" `. {. g; V' ^
, h- \& d0 N( q) |6 w& ]Funds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.9 u7 w# H! ~8 j8 v2 l
; e5 U" o) |- ]# ^ }, g9 X
“For the first time, we are offering every Albertan a great opportunity to invest directly in Alberta,” said Dave Mowat, ATB president and CEO.
! z5 l: g6 |* L. a
! X, X9 o! C* n0 \. b“Every dollar invested in an ATB Alberta Growth Note will be put to work, building Alberta’s economy and helping businesses grow.”
0 {5 O# }- R6 ^: a( k- T' [9 j
The GICs will be available for a limited time only. |
|