Canada Life Completes IPO

Canada Life Capital Trust, a trust established by The Canadian Life Assurance Company, completed the issuance of $450 million of Canada Life Capital Securities (CLiCS) on March 14, 2002. The CLiCS offering involved a multi-tranche format with both CLiCS series A and CLiCS series B targeted to the Canadian institutional market. The lead underwriter for the offering was Merrill Lynch Canada Inc.

Canada Life was represented by McCarthy Tétrault LLP, with a team comprised of David Tennant, Barry Ryan, David Judson and Steven Kim (corporate and regulatory) and Gabrielle Richards and Jillian Welch (tax), acting under the direction of Canada Life in-house counsel Andrew Brands. The underwriting syndicate was represented by Osler, Hoskin & Harcourt LLP, with a team that included Steven Smith and Lynne Woollcombe (corporate and securities), Jim Lisson (regulatory) and Andy McGuffin (tax).

Lawyer(s)

Jillian M. Welch Steven W. Smith Steven R. Kim David A. Judson David B. Tennant James H. Lisson Andrew S. McGuffin