Intact Financial said it plans to issue $150 million in unsecured medium-term notes that will be used for general corporate and investment purposes.

The notes, which will be offered on a best efforts basis through a syndicate led by CIBC World Markets and TD Securities, will bear interest at a fixed annual rate of 6.4 per cent until maturity on Nov. 23, 2039.

Intact Financial is a provider of property and casualty insurance under the Intact Insurance, Novex Group Insurance, Belairdirect and Grey Power brands.