Industrial Alliance announces completion of the redemption of Industrial Alliance Trust Securities
QUEBEC CITY, July 2, 2013 /CNW Telbec/ - Industrial Alliance Capital Trust (the "Trust"), a subsidiary of Industrial Alliance Insurance and Financial Services Inc. ("Industrial Alliance"), today announces that, effective June 30, 2013, it has completed the redemption of all the outstanding Industrial Alliance Trust Securities - Series A ("IATS") with a nominal value of $150 million in accordance with the terms of the Amended and Restated Declaration of Trust dated as of July 4, 2003 (the "Declaration of Trust").
The holders of the IATS are not entitled to further distributions of indicated yields or any other distribution, pursuant to the Declaration of Trust or otherwise, and the holders of IATS will not be entitled to exercise any rights in respect of the IATS.
About Industrial Alliance
Founded in 1892, Industrial Alliance Insurance and Financial Services Inc. is a life and health insurance company with operations in all regions of Canada as well as in the United States. The Company offers a wide range of life and health insurance products, savings and retirement plans, RRSPs, mutual and segregated funds, securities, auto and home insurance, mortgage loans and other financial products and services for both individuals and groups. The fourth largest life and health insurance company in Canada, Industrial Alliance contributes to the financial wellbeing of over three million Canadians, employs 4,300 people and has assets under management and administration of more than $87 billion. Industrial Alliance stock is listed on the Toronto Stock Exchange under the ticker symbol IAG.
SOURCE INDUSTRIAL ALLIANCE INSURANCE AND FINANCIAL SERVICES INC.