On October 15, 2009, Industrial Alliance Insurance and Financial Services Inc. announced the closing of its previously announced offering of 4,000,000 6% Non-Cumulative Class A Preferred Shares Series E representing aggregate gross proceeds of $100 million.
The offering was underwritten on a bought deal basis, by a syndicate of underwriters co-led by Scotia Capital Inc. and RBC Dominion Securities Inc. and including National Bank Financial Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., TD Securities Inc., Desjardins Securities Inc., Casgrain & Company Limited, Dundee Securities Corporation, HSBC Securities (Canada) Inc., Industrial Alliance Securities Inc. and Laurentian Bank Securities Inc.
The underwriters were advised in this transaction by Fasken Martineau with a team that included Peter Villani, Gabriel Castiglio and Christian Jacques (corporate and securities) and Gilles Carli (tax).