Industrial Alliance sets date and price for debenture redemption

By Tali David

Minneapolis, Feb. 27 - Industrial Alliance Insurance and Financial Services Inc. plans to redeem all of the outstanding 8.25% 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.

The subordinated debentures will be redeemed at C$1,053.71 plus accrued interest on April 1. There is no information on the redemption of the IATS - series A.

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

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