Industrial Alliance to redeem all of its 5.13% debentures via offering

By Tali Rackner

Norfolk, Va., May 13 - Industrial Alliance Insurance and Financial Services Inc. plans to redeem all C$150 million of its 5.13% subordinated debentures due June 30, 2019 with the proceeds from a new offering, according to a press release.

The debentures will be redeemed at par plus accrued interest, for a total of C$1,025.65 per C$1,000 principal amount, on June 30.

Industrial Alliance is a life and health insurance company based in Quebec City.

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