Industrial Alliance closes common share and preferred share offerings for proceeds of $200 million
Client
Underwriters
Date
February 26, 2010
On February 26, 2010, Industrial Alliance Insurance and Financial Services Inc. announced the closing of its previously announced offerings of 2,950,000 Common Shares at a price of $34.00 per Common Share representing aggregate gross proceeds of $100 million, and 4,000,000 5.90% Non-Cumulative Class A Preferred Shares Series F at a price of $25.00 per Series F Preferred Share, representing aggregate gross proceeds of $100 million.
The offerings were underwritten, on a bought deal basis, by a syndicate of underwriters co-led by BMO Nesbitt Burns Inc. and RBC Dominion Securities Inc. and which includes National Bank Financial Inc., Scotia Capital 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. These offerings were made under the terms of prospectus supplements dated February 19, 2010 to the short form base shelf prospectus dated April 30, 2009.
The underwriters were advised in these transactions by Fasken Martineau with a team that included Gilles Leclerc, Peter Villani, Catherine Isabelle and Christian Jacques (corporate and securities) and Gilles Carli (tax).
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