Sagen MI Canada Inc. announced that it completed its previously announced offering (the "Offering") of $200 million of 5.909% debentures due May 19, 2028 by way of private placement under applicable Canadian securities laws. The Offering was made through a syndicate of agents led by Scotia Capital, including TD Securities, BMO Capital Markets, CIBC World Markets, National Bank Financial and RBC Capital Markets. The Company also announced that it will redeem all of its outstanding 4.242% debentures due April 1, 2024 (the "Redeemed Debentures").

The Company has given notice to the registered holder of the Redeemed Debentures that it will redeem on June 19, 2023 (the "Redemption Date") the outstanding $169.934 million aggregate principal amount of Redeemed Debentures. Pursuant to the terms of the trust indenture governing the Redeemed Debentures, the Redeemed Debentures will be redeemed on the Redemption Date at a price equal to the greater of the Canada Yield Price and par, together in each case with accrued and unpaid interest to the Redemption Date.