Canada Life Capital Trust, a trust established by The Canadian Life Assurance Company, completed the issuance of $450 million of Canada Life Capital Securities (CLiCS) on March 14, 2002. The CLiCS offering involved a multi-tranche format with both CLiCS series A and CLiCS series B targeted to the Canadian institutional market. The lead underwriter for the offering was Merrill Lynch Canada Inc.
Canada Life was represented by McCarthy Tétrault LLP, with a team comprised of David Tennant, Barry Ryan, David Judson and Steven Kim (corporate and regulatory) and Gabrielle Richards and Jillian Welch (tax), acting under the direction of Canada Life in-house counsel Andrew Brands. The underwriting syndicate was represented by Osler, Hoskin & Harcourt LLP, with a team that included Steven Smith and Lynne Woollcombe (corporate and securities), Jim Lisson (regulatory) and Andy McGuffin (tax).