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ATB’s new GIC now available to investors* Q3 ^; l7 @5 O( W2 [, h
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8 F' q8 S( L H+ J6 A% O- w* Uedmontonjournal.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.4 s$ W9 `! ^% ~, T" Y
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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.% M1 \& n+ s1 K5 n# h7 x9 b% A
' u1 v1 o1 g+ |; p$ R# y# VThe 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 $7 billion, ATB said at the time.' v% q% d$ |$ |! h
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Funds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.
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* p$ l6 ?8 C" s5 G) j6 p“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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' u: F1 T1 c: @+ Q“Every dollar invested in an ATB Alberta Growth Note will be put to work, building Alberta’s economy and helping businesses grow.”- g0 B" k7 b! |0 A( ?
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The GICs will be available for a limited time only. |
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