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ATB’s new GIC now available to investors
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" K2 K9 S4 l! C7 ]) v6 Redmontonjournal.comSeptember 1, 2009Comments (1)4 @4 c" Q! Q8 n& y
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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.
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+ ?; o$ }' Z4 A1 a6 AThe 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.! @7 X* s, s4 s
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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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/ D( j1 c8 Q& X# g; R“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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; g+ d/ n# y# E9 k' Q“Every dollar invested in an ATB Alberta Growth Note will be put to work, building Alberta’s economy and helping businesses grow.”2 w! Z7 c& a4 { T" p3 m! o( q# X
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The GICs will be available for a limited time only. |
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