Industrial Alliance Announces the Closing of an Offering of $250 million of 2.80% Fixed/Floating Subordinated Debentures Canada NewsWire
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THE UNITED STATES / QUEBEC CITY , May 16, 2014 /CNW Telbec/ - Industrial Alliance Insurance
and Financial Services Inc. ("Industrial Alliance" or the "Company")
announced today the closing of its previously announced offering of
$250 million principal amount of 2.80% fixed/floating subordinated
debentures due May 16, 2024 (the "Debentures").
The Debentures will mature on May 16, 2024 and, for the period from May
16, 2014 to but excluding May 16, 2019 , will bear interest at a fixed
annual rate of 2.80%, payable semi-annually, and, for the period from
May 16, 2019 to but excluding May 16, 2024 , will bear interest at a
variable annual rate equal to the 3-month bankers' acceptance rate
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