Industrial Alliance Closes Offering of Subordinated Debentures

Industrial Alliance Insurance and Financial Services Inc. completed a public offering of 4.75 per cent Fixed/Floating Subordinated Debentures for gross proceeds of $250.1 million.

The Subordinated Debentures were offered on an agency basis by a syndicate of dealers led by RBC Dominion Securities Inc. and TD Securities Inc., including BMO Nesbitt Burns Inc., Scotia Capitals Inc., CIBC World Markets Inc., National Bank Financial Inc., Casgrain & Company Limited and Industrial Alliance Securities Inc.

Industrial Alliance was represented in-house by Douglas Carrothers, Vice-President, Legal Services and Corporate Secretary and Jennifer Dibblee, Director, Corporate Affairs, Legal Department; and by a team from Lavery, de Billy L.L.P. consisting of Marc Rochefort, Michel Servant, Josianne Beaudry, Guillaume Lavoie and Geneviève Fournier (corporate and securities) and Philip Nolan (tax).

The dealers were represented by McCarthy Tétrault LLP with a team that included Barry Ryan, Andrew Parker, Daniel Benay, Anne-Marie Naud and Charles-Antoine Soulière (business law) and Gabrielle Richards (tax).