Insurance company Sagen MI Canada Inc. is planning to raise about C$300 million through a bond sale, with people familiar with the matter saying the sale could occur as soon as this week.
Sagen MI Canada provides mortgage-default insurance for lenders that offer services to Canadian homebuyers. Bloomberg reports the planned raise is about C$300 million (around $216 million), while the Financial Post similarly describes the target as roughly $300 million, framing it as a fund-raising effort by the insurer.
The outlets align on the approximate size of the intended financing and that it is being pursued via a bond issuance. They do not provide additional details in the supplied excerpts about bond terms, timing beyond “as soon as this week,” or the specific use of proceeds.
