Industrial Alliance Completes $100M Bought Deal Financing of Class A Preferred Shares

On October 15, 2009, Industrial Alliance Insurance and Financial Services Inc. closed a public offering of 4,000,000 Non-Cumulative Class A Preferred Shares Series E for gross proceeds of $100 million.

The Class A Preferred Shares were sold to a syndicate of underwriters led by Scotia Capital Inc. and RBC Dominion Securities Inc., 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.

Industrial Alliance was represented in-house by Douglas Carrothers, vice-president, legal services and corporate secretary and Jennifer Dibblee, director, corporate affairs, legal department; and by a team from Lavery, de Billy L.L.P. consisting of Marc Rochefort, Michel Servant, Benoit Mallette and Guillaume Lavoie (corporate and securities) and Philip Nolan (tax).

The underwriters were represented by Fasken Martineau DuMoulin LLP with a team that included Peter Villani, Gabriel Castiglio and Christian Jacques (corporate and securities) and Gilles Carli (tax).