Co-operators Financial Services Limited completes C$150 million offering of debentures on private placement basis

Date Closed: 03/10/2010

Value: C$150 million

On March 10, 2010, Co-operators Financial Services Limited (CFSL) completed an offering of Senior Unsecured Debentures due March 10, 2020 in the aggregate principal amount of $150 million. The offering was made by way of a private placement and the proceeds of the offering will be used to enable CFSL to provide additional capital to its subsidiaries and for general corporate purposes.

The debentures were sold through a syndicate of agents co-led by Scotia Capital Inc. and RBC Dominion Securities Inc., and included TD Securities Inc. and Desjardins Securities Inc.

CFSL was represented in-house by Andrew Carlyle, Assistant General Counsel and by BLG with a team that consisted of Philippe Tardif, Terence Lui, Shaunik Katyal and Vanessa McMinn (corporate and securities) and Larissa Tkachenko (tax).