Power Corp. of Canada plans a domestic offering of $400 million debentures, the company said Wednesday.

The offering consists of $250 million principal amount of 7.57% debentures due April 22, 2019, and $150 million principal amount of 8.57% debentures due April 22, 2039.

The bebentures will be offered through a group of agents to be led by BMO Nesbitt Burns Inc. and Scotia Capital Inc.

The 10 Year Debentures will be dated April 20, 2009 and will mature on April 22, 2019. Interest on the 10 Year Debentures will be payable semi-annually in arrears in April and October in each year, commencing Oct, 22, 2009, until April 22, 2019. The 10 Year Debentures have been priced to provide a yield to maturity of 7.578%.

The 30 Year Debentures will be dated April 20, 2009 and will mature on April 22, 2039. Interest on the 30 Year Debentures will be payable semi-annually in arrears in April and October in each year, commencing Oct. 22, 2009, until April 22, 2039. The 30 Year Debentures have been priced to provide a yield to maturity of 8.577%.

The credit rating for senior unsecured Power debentures assigned by S&P is A and by DBRS is A(High).

The offering is expected to close on April 20. The net proceeds will be used to supplement the company’s financial resources and for general corporate purposes.

Montreal-based Power Corp. of is a diversified international management and holding company with interests in the financial services industry in North America and Europe. Its affiliates include insurer Great-West Lifeco and asset manager IGM Financial.

IE