Industrial Alliance completes $100 million preferred share offering
Client
Underwriters led by Scotia Capital Inc
On November 17, 2008, Industrial Alliance sold four million preferred shares to a syndicate of investment banks led by Scotia Capital to raise $100 million. This new capital features a 6.2 per cent dividend for five years, then a floating-rate dividend pegged at 338 basis points over the five-year Government of Canada bond yield.
The underwriters were advised by Fasken Martineau with a team led by Peter Villani and that included, among others, Gabriel Castiglio and Christian Jacques.
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