By Cristal Cody
Eureka Springs, Ark., Sept. 13 – Industrial Alliance Insurance and Financial Services Inc. priced C$400 million of 3.3% 12-year debentures at 99.975 to yield 3.304% on Tuesday, according to a market source.
The debentures priced with a spread of 235 basis points over the interpolated Government of Canada bond curve.
TD Securities Inc. was the bookrunner.
The bonds are non-callable for seven years.
Industrial Alliance Insurance and Financial Services is a Canadian insurance company based in Quebec City.
| Issuer: | Industrial Alliance Insurance and Financial Services Inc.
|
| Amount: | C$400 million
|
| Maturity: | 2028
|
| Securities: | Debentures
|
| Bookrunner: | TD Securities Inc.
|
| Coupon: | 3.3%
|
| Price: | 99.975
|
| Yield: | 3.304%
|
| Spread: | 235 bps over interpolated Government of Canada bond curve
|
| Call feature: | Non-callable for seven years
|
| Pricing date: | Sept. 13
|
| Ratings: | DBRS: A
|
| Distribution: | Canada
|
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