Canadian Life Companies Split Corp's completes overnight offering of Preferred Shares and Class A Shares
On June 26, 2025, Canadian Life Companies Split Corp. completed an overnight marketing of Preferred Shares and Class A Shares. The total gross proceeds from the offering were approximately $40.0 million. The net proceeds from this offering will be utilized by the Company to invest in an actively managed portfolio of four publicly traded Canadian life insurance companies: Great-West Lifeco Inc., Industrial Alliance Insurance & Financial Services Inc., Manulife Financial Corporation, and Sun Life Financial Inc.
The syndicate of agents for the offering was co-led by National Bank Financial Inc. and included CIBC World Markets Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., TD Securities Inc., Canaccord Genuity Corp., Hampton Securities Limited, iA Private Wealth Inc., Raymond James Ltd., Richardson Wealth Limited, Wellington-Altus Private Wealth Inc., Desjardins Securities Inc., Manulife Wealth Inc., Research Capital Corporation and Ventum Financial Corp.
McCarthy Tetrault advised National Bank Financial Inc. and the syndicate of agents with a team led by Michael Eldridge that included Eric Frydrych, Dan Schechner (corporate), Fred Purkey, and Kathryn Walker (tax).
