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ATB’s new GIC now available to investors
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8 b6 l" C: O) a- n8 @+ \edmontonjournal.comSeptember 1, 2009Comments (1)0 s) s, {; d4 i- {4 P# C
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) e5 N& j( Z- Z- t) QEDMONTON — 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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P' \8 |; z4 oThe 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.' y' M' p) e& l; h
& Y6 t! o+ b. K* x7 YThe 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.
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Funds raised by selling the notes will be used for loans to qualified Albertans and Alberta businesses.# p6 ]8 |) n% e+ e4 Y) p4 {
' o) `! f; A# x7 i4 e. ^6 G“For the first time, we are offering every Albertan a great opportunity to invest directly in Alberta,” said Dave Mowat, ATB president and CEO., X( u0 }6 ?: x* t
8 A6 A. @! S- @“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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The GICs will be available for a limited time only. |
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