Algoma Central Upsizes Debenture Offerings to CA$90 Million

11:18 AM EDT, 10/21/2026 (MT Newswires) -- Algoma Central (ALC.TO) said on Wednesday that it upsized its debenture offering to CA$70 million, and increased its debenture offering to E-L Financial (ELF.TO) to CA$20 million. The over-allotment option has been increased by CA$3 million to CA$10.5 million of debentures, a statement added. Proceeds will be used to fund "newbuild" investments, mergers and acquisitions, the company said. The debentures for both offerings will mature on Dec. 31, 2031 and bear interest at an annual rate of 6.20%. They may be converted into Algoma shares at CA$46.95 apiece. Both offerings will close on Nov. 4. Algoma shares were last seen down CA$0.55 at CA$30.75 on the Toronto Stock Exchange. Price: 30.75, Change: -0.55, Percent Change: -1.76