On December 28, 2001, Canada Life Financial Corporation completed an offering of six million perpetual preferred shares valued at $150 million.
The underwriters for the offering were BMO Nesbitt Burns Inc., CIBC World Markets Inc., RBC Dominion Securities Inc., Scotia Capital Inc., Merrill Lynch Canada Inc., National Bank Financial and TD Securities Inc. Robert McDowell, Richard Steinberg and Stephen Kerr (corporate/securities) and Douglas Cannon (tax) of Fasken Martineau acted for the underwriters.