Co-operators Financial Services Completes $150M Offering of Debentures

On March 10, 2010, Co-operators Financial Services Limited (“CFSL”) completed an offering of Senior Unsecured Debentures due March 10, 2020 in the aggregate principal amount of $150 million. The offering was made by way of a private placement and the proceeds of the offering will be used to enable CFSL to provide additional capital to its subsidiaries and for general corporate purposes.

The debentures were sold through a syndicate of agents co-led by Scotia Capital Inc. and RBC Dominion Securities Inc., and included TD Securities Inc. and Desjardins Securities Inc.

CFSL was represented in-house by Andrew Carlyle, Assistant General Counsel, and by Borden Ladner Gervais LLP with a team that consisted of Philippe Tardif, Terence Lui, Shaunik Katyal and Vanessa McMinn (corporate and securities) and Larissa Tkachenko (tax).

The agents were represented by Stikeman Elliott LLP with a team that consisted of Mihkel Voore, Darin Renton, Douglas Bryce and Jeff Hershenfield (corporate and securities) and Francesco Gucciardo (tax).