Co-operators General Insurance Company completes C$115 million preference share offering

Date Closed: 5/29/2009

Value: C$115 million

Co-operators General Insurance Company (Co-operators General) completed an offering of 4.6 million Non-Cumulative 5-Year Rate Reset Class E Preference Shares, Series D for total gross proceeds of $115 million, including the exercise by the underwriters of the over allotment option. The initial transaction closed on May 22, 2009 and the over-allotment option closed on May 29, 2009.

The offering was made through a syndicate of underwriters co-led by Scotia Capital Inc. and TD Securities Inc. and including BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., Desjardins Securities Inc., National Bank Financial Inc., HSBC Securities (Canada) Inc., Blackmont Capital Inc., Dundee Securities Corporation and Industrial Alliance Securities Inc. (collectively, the 'Underwriters').

Co-operators General was represented by Frank Lowery, General Counsel & Secretary, and Andrew Carlyle, Assistant General Counsel, who were assisted by Borden Ladner Gervais LLP with a team that included Philippe Tardif, Donna Spagnolo, Terence Lui and Vanessa McMinn (corporate and securities) and Larissa V. Tkachenko (tax).