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ATB’s new GIC now available to investors: e: T6 ?% k) D
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edmontonjournal.comSeptember 1, 2009Comments (1)
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G; _" e' ^" ?* p7 { x& gEDMONTON — 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.
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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.
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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 $7 billion, ATB said at the time.5 w- N; M( M2 C( J
% b. y: b- w9 h+ KFunds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.
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# c" E6 S$ v4 A; m: W3 ^“For the first time, we are offering every Albertan a great opportunity to invest directly in Alberta,” said Dave Mowat, ATB president and CEO.0 l& w. J3 b4 |, e. E% E M
" X' K4 w8 w9 @& Y8 e$ z% T“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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' B- M A4 `* j% cThe GICs will be available for a limited time only. |
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