On September 16, 2016, Industrial Alliance Insurance and Financial Services Inc. (“Industrial Alliance”) completed the offering of $400-million aggregate principal amount of 3.30 per cent Fixed/Floating Subordinated Debentures due September 15, 2028. The offering was made under a shelf prospectus dated April 16, 2015, and pursuant to a prospectus supplement dated September 13, 2016.
The transaction was completed on an agency basis by a syndicate led by TD Securities, as sole lead and bookrunner, and consisting of CIBC World Markets, RBC Capital Markets, BMO Capital Markets, Industrial Alliance Securities, National Bank Financial and Scotia Capital.
Industrial Alliance’s legal team included Jennifer Dibblee, Vice-President, Legal Services and Corporate Secretary, and Chantale Blais, Senior Legal Counsel. Norton Rose Fulbright Canada LLP acted as legal counsel to Industrial Alliance. The team was led by Thierry Dorval, and included Solomon Sananes, Renée Loiselle and Lady Africa Sheppard (corporate and securities) and Derek Chiasson (tax).
The agents were represented by McCarthy Tétrault LLP with a team that included Andrew Parker, Charles-Antoine Soulière, Julien Langlois (corporate and securities), Barry Ryan (regulatory) and Gabrielle Richards (tax).