IAG.PR.F Drops on Poor Opening-Day Volume

Industrial Alliance Insurance and Financial Services Inc. has announced:

the closing of its previously announced offerings of 2,950,000 Common Shares (the “Common Shares”) at a price of $34.00 per Common Share representing aggregate gross proceeds of $100 million, and 4,000,000 5.90% Non-Cumulative Class A Preferred Shares Series F (the “Series F Preferred Shares”) at a price of $25.00 per Series F Preferred Share, representing aggregate gross proceeds of $100 million.

The offerings were underwritten, on a bought deal basis, by a syndicate of underwriters co-led by BMO Nesbitt Burns Inc. and RBC Dominion Securities Inc. and which includes National Bank Financial Inc., Scotia Capital Inc., CIBC World Markets Inc., TD Securities Inc., Desjardins Securities Inc., Casgrain & Company Limited, Dundee Securities Corporation, HSBC Securities (Canada) Inc., Industrial Alliance Securities Inc. and Laurentian Bank Securities Inc.

These offerings were made under the terms of prospectus supplements dated February 19, 2010 to the short form base shelf prospectus dated April 30, 2009. The prospectus supplements are available on the SEDAR website at www.sedar.com and on the Company’s website at www.inalco.com.

The issue was announced on February 17.

Today it traded 72,800 shares in a range of 24.41-88 before closing at 24.55-60, 15×126.

Vital statistics are:

IAG.PR.F Perpetual-Discount YTW SCENARIO
Maturity Type : Limit Maturity
Maturity Date : 2040-02-26
Maturity Price : 24.35
Evaluated at bid price : 24.55
Bid-YTW : 6.04 %

IAG.PR.F has been added to the PerpetualDiscount index.

2 Responses to “IAG.PR.F Drops on Poor Opening-Day Volume”

  1. […] PrefBlog Canadian Preferred Shares – Data and Discussion « IAG.PR.F Drops on Poor Opening-Day Volume […]

  2. […] Recent new issue. YTW SCENARIO Maturity Type : Limit Maturity Maturity Date : 2040-03-01 Maturity Price : 24.41 Evaluated at bid price : 24.62 Bid-YTW : 6.03 % […]

Leave a Reply

You must be logged in to post a comment.