{"id":1519,"date":"2007-11-27T00:59:56","date_gmt":"2007-11-27T04:59:56","guid":{"rendered":"http:\/\/www.prefblog.com\/?p=1519"},"modified":"2007-11-27T00:59:56","modified_gmt":"2007-11-27T04:59:56","slug":"gwo-finances-putnam-purchase","status":"publish","type":"post","link":"https:\/\/prefblog.com\/?p=1519","title":{"rendered":"GWO Finances Putnam Purchase!"},"content":{"rendered":"<p>Well, it took them long enough! GWO <a href=\"http:\/\/ca.news.finance.yahoo.com\/s\/26112007\/2\/biz-finance-great-west-lifeco-sell-its-u-s-health.html\">has announced<\/a> it:<\/p>\n<blockquote><p>is selling its U.S. health-care business to Cigna Corp. in a deal valued at US$2.25 billion, a move its CEO says is part of a strategy to focus more on the financial services sector.<br \/>\n<b>&#8230;<\/b><br \/>\nAfter taxes and write-offs, Great-West Lifeco said it will have approximately US$1.6 billion from the sale that will be used to repay bridge financing related to its purchase of Boston-based Putnam Investments, LLC, which closed in August.<\/p><\/blockquote>\n<p>After <a href=\"http:\/\/www.prefblog.com\/?p=906\">a bond issue in June<\/a> the refinancing of the bridge debt languished. The original intention had been <a href=\"http:\/\/www.prefblog.com\/?p=543\">to issue hybrids<\/a> (probably prefs); not only has this source of supply been removed, the <a href=\"http:\/\/www.prefblog.com\/?p=1439\">issuer bid for GWO.PR.E \/ GWO.PR.X<\/a> might see a bit more activity now.<\/p>\n<p>GWO has the following direct issues outstanding: GWO.PR.E, GWO.PR.F, GWO.PR.G, GWO.PR.H, GWO.PR.I &#038; GWO.PR.X. Related issuers are POW, PWF &#038; CL.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Well, it took them long enough! GWO has announced it: is selling its U.S. health-care business to Cigna Corp. in a deal valued at US$2.25 billion, a move its CEO says is part of a &hellip;<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[13],"tags":[],"class_list":["post-1519","post","type-post","status-publish","format-standard","hentry","category-issue-comments"],"_links":{"self":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/1519","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=1519"}],"version-history":[{"count":0,"href":"https:\/\/prefblog.com\/index.php?rest_route=\/wp\/v2\/posts\/1519\/revisions"}],"wp:attachment":[{"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=1519"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=1519"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/prefblog.com\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=1519"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}