Intact Financial closes C$150M bought deal offering

Date Closed

February 18, 2020

Lead Office

Toronto

Value

150.00 Million CAD

On February 18, 2020, Intact Financial Corporation closed its previously announced bought deal offering of 6,000,000 Non-Cumulative Class A Preferred Shares, Series 9, resulting in gross proceeds of C$150 million, including the proceeds resulting from the exercise of the underwriters’ option. The net proceeds of the offering are intended to be used for general corporate purposes.

The offering was underwritten by a syndicate of underwriters led by TD Securities Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., National Bank Financial Inc., RBC Dominion Securities Inc. and Scotia Capital Inc., and included Raymond James Ltd., Canaccord Genuity Corp., Desjardins Securities Inc., Industrial Alliance Securities Inc. and Cormark Securities Inc.

Based in Toronto, Intact Financial Corporation is the largest provider of property and casualty insurance in Canada and a leading provider of specialty insurance in North America.

McCarthy Tétrault LLP advised the underwriters with a team led by Andrew Parker that included Fraser Bourne, Loïc Sanscartier, Karl Bherer, and Arie van Wijngaarden.

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