Latest news with #PreferredShares
Globe and Mail
10 hours ago
- Business
- Globe and Mail
Canadian Life Companies Split Corp. Completes Overnight Offering
TORONTO, June 26, 2025 (GLOBE NEWSWIRE) -- Canadian Life Companies Split Corp. ('the Company') is pleased to announce it has completed the overnight offering of Preferred Shares and Class A Shares of the Company. Total gross proceeds of the offering were $40.0 million, bringing the Company's net assets to approximately $217.9 million. The shares will begin trading on the Toronto Stock Exchange under the existing symbols of (Preferred Shares) and LFE (Class A Shares). The Preferred Shares were offered at a price of $10.55 per Preferred Share to yield 6.64% and the Class A Shares were offered at a price of $6.35 per Class A Share to yield 18.90%. The offering was led by National Bank Financial Inc. The net proceeds of the offering will be used by the Company to invest in an actively managed portfolio primarily consisting of four publicly traded Canadian life insurance companies as follows: Great‐West Lifeco Inc., Industrial Alliance Insurance & Financial Services Inc., Manulife Financial Corporation and Sun Life Financial Inc. Commissions, trailing commissions, management fees and expenses all may be associated with mutual fund investments. Investors should read the prospectus supplement to the Company's short form base shelf prospectus dated May 1, 2024 before investing. Mutual funds are not guaranteed, their values change frequently, and past performance may not be repeated. Please read the Company's publicly filed documents which are available at
National Post
3 days ago
- Business
- National Post
iA Financial Group Completes Offering of $400 million of Institutional Preferred Shares
Article content QUEBEC CITY — iA Financial Corporation Inc. (TSX: IAG) (the ' Company ') announced today the completion of its previously announced offering (the ' Offering ') of $400 million of 6.435% Non-Cumulative 5-Year Rate Reset Class A Preferred Shares Series C (the ' Preferred Shares '). Article content Article content The Preferred Shares have been assigned a rating of 'Pfd-2' with a Stable trend by Morningstar DBRS (DBRS Limited) and a rating of 'BBB+/P-2(High)' by S&P Global Ratings, a division of S&P Global, Inc. Article content The Preferred Shares were sold to institutional investors on a best-efforts agency basis by a syndicate of agents co-led by RBC Capital Markets, National Bank Financial Markets and TD Securities. Article content The Offering was made under the Company's short form base shelf prospectus dated April 25, 2024. Complete details of the Offering are set out in the prospectus supplement dated June 16, 2025, which is available on SEDAR+ at and on the Company's website at Article content This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offering, solicitation or sale would be unlawful. Article content The Preferred Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the ' U.S. Securities Act ') or the securities laws of any state of the United States of America, and may not be offered, sold or delivered, directly or indirectly, within the United States, its territories, its possessions and other areas subject to its jurisdiction or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act), except in certain transactions exempt from, or not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities within the United States. Article content About iA Financial Group Article content iA Financial Group is one of the largest insurance and wealth management groups in Canada, with operations in the United States. Founded in 1892, it is an important Canadian public company and is listed on the Toronto Stock Exchange under the ticker symbols IAG (common shares). Article content Article content : Article content Article content Email: Article content Article content
National Post
17-06-2025
- Business
- National Post
iA Financial Group Announces Offering of $400 million of Institutional Preferred Shares
Article content The shelf prospectus supplement, the corresponding base shelf prospectus and any amendment to the documents will be accessible through SEDAR+ within two business days. Article content Not for distribution to U.S. newswire services or for dissemination in the United States. Article content Article content QUEBEC CITY — iA Financial Corporation Inc. (TSX: IAG) (the ' Company ') announced today an offering of $400 million of Non-Cumulative 5-Year Rate Reset Class A Preferred Shares Series C (the ' Preferred Shares '). The Preferred Shares will be sold to certain institutional investors on a best-efforts agency basis by a syndicate of agents co-led by RBC Capital Markets, National Bank Financial Markets and TD Securities. Article content The Preferred Shares will be issued at a price of $1,000 per share and will pay fixed dividends at a rate of 6.435% per annum, payable semi-annually, as and when declared by the Board of Directors of the Company, for the initial period ending on, but excluding, June 30, 2030. Thereafter, the dividend rate of the Preferred Shares will reset every five years at a rate per annum equal to the prevailing 5-year Government of Canada Yield, plus 3.40%. Article content The offering is expected to close on or about June 23, 2025. The Company intends to use the net proceeds from the sale of the Preferred Shares for general corporate purposes, which may include investments in subsidiaries and repayment of indebtedness. Article content Subject to the prior approval of the Autorité des marchés financiers, the Company may redeem the Preferred Shares, in whole or in part, on June 30, 2030 and every five years thereafter during the period from May 30 to and including June 30, commencing in 2035, on not less than 10 days' and not more than 60 days' prior notice. Article content The Preferred Shares will be offered in each of the provinces of Canada under a shelf prospectus supplement (the ' Prospectus Supplement ') to the Company's short form base shelf prospectus dated April 25, 2024 (the ' Shelf Prospectus '). Article content Access to the Prospectus Supplement, the Shelf Prospectus and any amendments to the documents is provided in accordance with securities legislation relating to procedures for providing access to a shelf prospectus supplement, a base shelf prospectus and any amendment to the documents. The Shelf Prospectus is, and the Prospectus Supplement will be (within two business days), accessible on SEDAR+ at Article content An electronic or paper copy of the Prospectus Supplement, the Shelf Prospectus and any amendment to the documents may be obtained, without charge, from RBC Dominion Securities Inc. by contacting torontosyndicate@ National Bank Financial Inc. by contacting syndicate-corp@ or TD Securities Inc. by contacting TDCAN-Syndicate@ by providing the contact with an email address or address, as applicable. Article content This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offering, solicitation or sale would be unlawful. Article content The Preferred Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the ' U.S. Securities Act ') or the securities laws of any state of the United States of America, and may not be offered, sold or delivered, directly or indirectly, within the United States, its territories, its possessions and other areas subject to its jurisdiction or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act), except in certain transactions exempt from, or not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities within the United States. Article content About iA Financial Group Article content iA Financial Group is one of the largest insurance and wealth management groups in Canada, with operations in the United States. Founded in 1892, it is an important Canadian public company and is listed on the Toronto Stock Exchange under the ticker symbols IAG (common shares). Article content Article content Article content : Article content Article content Article content Office phone: 418-684-5000, ext. 103281 Article content Article content Email: Article content Article content Public Affairs Article content Article content Chantal Corbeil Article content Article content Article content
Yahoo
17-06-2025
- Business
- Yahoo
iA Financial Group Announces Offering of $400 million of Institutional Preferred Shares
The shelf prospectus supplement, the corresponding base shelf prospectus and any amendment to the documents will be accessible through SEDAR+ within two business days. Not for distribution to U.S. newswire services or for dissemination in the United States. QUEBEC CITY, June 17, 2025--(BUSINESS WIRE)--iA Financial Corporation Inc. (TSX: IAG) (the "Company") announced today an offering of $400 million of Non-Cumulative 5-Year Rate Reset Class A Preferred Shares Series C (the "Preferred Shares"). The Preferred Shares will be sold to certain institutional investors on a best-efforts agency basis by a syndicate of agents co-led by RBC Capital Markets, National Bank Financial Markets and TD Securities. The Preferred Shares will be issued at a price of $1,000 per share and will pay fixed dividends at a rate of 6.435% per annum, payable semi-annually, as and when declared by the Board of Directors of the Company, for the initial period ending on, but excluding, June 30, 2030. Thereafter, the dividend rate of the Preferred Shares will reset every five years at a rate per annum equal to the prevailing 5-year Government of Canada Yield, plus 3.40%. The offering is expected to close on or about June 23, 2025. The Company intends to use the net proceeds from the sale of the Preferred Shares for general corporate purposes, which may include investments in subsidiaries and repayment of indebtedness. Subject to the prior approval of the Autorité des marchés financiers, the Company may redeem the Preferred Shares, in whole or in part, on June 30, 2030 and every five years thereafter during the period from May 30 to and including June 30, commencing in 2035, on not less than 10 days' and not more than 60 days' prior notice. The Preferred Shares will be offered in each of the provinces of Canada under a shelf prospectus supplement (the "Prospectus Supplement") to the Company's short form base shelf prospectus dated April 25, 2024 (the "Shelf Prospectus"). Access to the Prospectus Supplement, the Shelf Prospectus and any amendments to the documents is provided in accordance with securities legislation relating to procedures for providing access to a shelf prospectus supplement, a base shelf prospectus and any amendment to the documents. The Shelf Prospectus is, and the Prospectus Supplement will be (within two business days), accessible on SEDAR+ at An electronic or paper copy of the Prospectus Supplement, the Shelf Prospectus and any amendment to the documents may be obtained, without charge, from RBC Dominion Securities Inc. by contacting torontosyndicate@ National Bank Financial Inc. by contacting syndicate-corp@ or TD Securities Inc. by contacting TDCAN-Syndicate@ by providing the contact with an email address or address, as applicable. Notice This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offering, solicitation or sale would be unlawful. The Preferred Shares have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or the securities laws of any state of the United States of America, and may not be offered, sold or delivered, directly or indirectly, within the United States, its territories, its possessions and other areas subject to its jurisdiction or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act), except in certain transactions exempt from, or not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities within the United States. About iA Financial Group iA Financial Group is one of the largest insurance and wealth management groups in Canada, with operations in the United States. Founded in 1892, it is an important Canadian public company and is listed on the Toronto Stock Exchange under the ticker symbols IAG (common shares). To receive iA Financial Group news releases by email, you can sign up for our newsletter on our website at iA Financial Group is a business name and trademark of iA Financial Corporation Inc. View source version on Contacts Information:Investor Relations Caroline DrouinOffice phone: 418-684-5000, ext. 103281Email: Public Affairs Chantal CorbeilOffice phone: 514-247-0465Email: Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
National Post
30-05-2025
- Business
- National Post
Pembina Pipeline Corporation Announces Redemption of Series 19 Preferred Shares
Article content CALGARY, Alberta — Pembina Pipeline Corporation ('Pembina' or the 'Company') (TSX: PPL; NYSE: PBA) announced today its intention to redeem its issued and outstanding Cumulative Redeemable Floating Rate Reset Class A Preferred Shares, Series 19 ('Series 19 Shares') (TSX: on June 30, 2025 (the 'Redemption Date'). Pembina intends to redeem all of its 8,000,000 issued and outstanding Series 19 Shares, in accordance with the terms of the Series 19 Shares, as set out in the Company's articles of amalgamation dated October 2, 2017 on the Redemption Date for a redemption price equal to $25.00 per Series 19 Share (the 'Redemption Price'), less any tax required to be deducted or withheld by the Company. The total redemption price to Pembina will be $200 million. Article content As previously announced, the dividend payable on June 30, 2025, to holders of the Series 19 Shares of record on June 16, 2025, will be $0.292750 per Series 19 Share. This will be the final quarterly dividend on the Series 19 Shares. Upon payment of the June 30, 2025, dividend, there will be no accrued and unpaid dividends on the Series 19 Shares as at the Redemption Date. Article content The Company has provided notice today of the Redemption Price and the Redemption Date to the sole registered holder of the Series 19 Shares in accordance with the terms of the Series 19 Shares, as set out in the Company's articles of amalgamation dated October 2, 2017. For non-registered holders of Series 19 Shares, no further action is required however, they should contact their broker or other intermediary with any questions regarding the redemption process for the Series 19 Shares in which they hold a beneficial interest. The Company's transfer agent for the Series 19 Shares is Computershare Investor Services Inc. Questions regarding the redemption process may also be directed to Computershare at 1-800-564-6253 or by email to corporateactions@ Article content Pembina Pipeline Corporation is a leading energy transportation and midstream service provider that has served North America's energy industry for more than 70 years. Pembina owns an extensive network of strategically-located assets, including hydrocarbon liquids and natural gas pipelines, gas gathering and processing facilities, oil and natural gas liquids infrastructure and logistics services, and an export terminals business. Through our integrated value chain, we seek to provide safe and reliable energy solutions that connect producers and consumers across the world, support a more sustainable future and benefit our customers, investors, employees and communities. For more information, please visit Article content Purpose of Pembina: We deliver extraordinary energy solutions so the world can thrive. Article content Pembina is structured into three Divisions: Pipelines Division, Facilities Division and Marketing & New Ventures Division. Article content Pembina's common shares trade on the Toronto and New York stock exchanges under PPL and PBA, respectively. For more information, visit Article content This news release contains certain forward-looking information and statements (collectively, 'forward-looking statements'), including forward-looking statements within the meaning of the 'safe harbor' provisions of applicable securities legislation, that are based on Pembina's current expectations, estimates, projections and assumptions in light of its experience and its perception of historical trends. In some cases, forward-looking statements can be identified by terminology such as 'continue', 'anticipate', 'schedule', 'will', 'expects', 'estimate', 'potential', 'planned', 'future', 'outlook', 'strategy', 'project', 'trend', 'commit', 'maintain', 'focus', 'ongoing', 'believe' and similar expressions suggesting future events or future performance. Article content In particular, this news release contains forward-looking statements relating to, without limitation, the timing, Redemption Price and process applicable to the redemption of the Series 19 Shares. Article content The forward-looking statements are based on certain assumptions that Pembina has made in respect thereof as at the date of this news release regarding, among other things: oil and gas industry exploration and development activity levels and the geographic region of such activity; the success of Pembina's operations; prevailing commodity prices, interest rates, carbon prices, tax rates and exchange rates; the ability of Pembina to maintain current credit ratings; the availability of capital to fund future capital requirements relating to existing assets and projects; future operating costs; geotechnical and integrity costs; that all required regulatory and environmental approvals can be obtained on the necessary terms in a timely manner; prevailing regulatory, tax and environmental laws and regulations; maintenance of operating margins; and certain other assumptions in respect of Pembina's forward-looking statements detailed in Pembina's Management's Discussion and Analysis and Annual Information Form for the year ended December 31, 2024 and from time to time in Pembina's public disclosure documents available at and through Pembina's website at Article content Although Pembina believes the expectations and material factors and assumptions reflected in these forward-looking statements are reasonable as of the date hereof, there can be no assurance that these expectations, factors and assumptions will prove to be correct. These forward-looking statements are not guarantees of future performance and are subject to a number of known and unknown risks and uncertainties including, but not limited to: the regulatory environment and decisions; Indigenous and landowner consultation requirements; the impact of competitive entities and pricing; reliance on third parties to successfully operate and maintain certain assets; the strength and operations of the oil and natural gas production industry and related commodity prices; non-performance or default by counterparties to agreements which Pembina or one or more of its affiliates has entered into in respect of its business; actions by governmental or regulatory authorities; the ability of Pembina to acquire or develop the necessary infrastructure in respect of future development projects; fluctuations in operating results; adverse general economic and market conditions in Canada, North America and worldwide; risks relating to inflation; the ability to access various sources of debt and equity capital; changes in credit ratings; counterparty credit risk; and certain other risks and uncertainties detailed in Pembina's management's discussion and analysis and annual information form, each for the year ended December 31, 2024, and from time to time in Pembina's public disclosure documents available at and through Pembina's website at Article content Article content Article content Article content Contacts Article content Article content
