Industrial Alliance to redeem notes, securities via share offering

By Tali David

Minneapolis, Feb. 19 - Industrial Alliance Insurance and Financial Services Inc. plans to redeem all of the outstanding 8¼% subordinated debentures due March 27, 2019 with a nominal value of C$100 million and all of the Industrial Alliance Trust Securities - series A with a nominal value of C$150 million with the proceeds from a common share offering, according to a news release.

Industrial Alliance will issue a redemption notice to redeem the subordinated debentures on or about March 29 and will issue the necessary notice to redeem the IATS - series A on June 30.

The subordinated debentures and the IATS - series A will be redeemed for a consideration determined in accordance with their respective terms.

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

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