05:40:06 EDT Fri 29 Mar 2024
Enter Symbol
or Name
USA
CA



Industrial Alliance Insurance and Financial Services Inc
Symbol IAG
Shares Issued 100,774,924
Close 2015-02-20 C$ 42.56
Market Cap C$ 4,288,980,765
Recent Sedar Documents

Industrial Alliance closes $250-million offering

2015-02-23 10:43 ET - News Release

Ms. Grace Pollock reports

INDUSTRIAL ALLIANCE ANNOUNCES THE CLOSING OF AN OFFERING OF $250 MILLION OF 2.64% FIXED/FLOATING SUBORDINATED DEBENTURES

Industrial Alliance Insurance and Financial Services Inc. has closed its previously announced offering of $250-million principal amount of 2.64-per-cent fixed/floating subordinated debentures due Feb. 23, 2027.

The debentures will mature on Feb. 23, 2027, and, for the period from Feb. 23, 2015, to but excluding Feb. 23, 2022, will bear interest at a fixed annual rate of 2.64 per cent, payable semi-annually, and, for the period from Feb. 23, 2022, to but excluding Feb. 23, 2027, will bear interest at a variable annual rate equal to the three-month bankers' acceptance rate (CDOR) plus 1.08 per cent, payable quarterly. Subject to prior regulatory approval, Industrial Alliance may redeem the debentures, in whole or in part, on or after Feb. 23, 2022.

The debentures have been rated A by DBRS Ltd. and A by Standard & Poor's.

The debentures were offered through a syndicate of agents led by TD Securities as sole lead and bookrunner, and consisting of RBC Dominion Securities Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc., CIBC World Markets Inc. and Industrial Alliance Securities Inc. The debentures were issued under a prospectus supplement dated Feb. 18, 2015, to the short-form base-shelf prospectus dated April 10, 2013. Details of the offering are set out in the prospectus supplement, which is available on SEDAR and the company's website.

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