Empire Life completes C$200 million offering of 3.383% subordinated debentures

Torys acted as counsel to the syndicate of dealers led by CIBC World Markets with a team that included David Seville, Rob Shaw and Justin Crawford (corporate/securities).

On December 16, 2016, The Empire Life Insurance Company ("Empire Life") completed its Canadian private placement of C$200 million principal amount of subordinated unsecured 3.383% fixed/floating debentures, due December 16, 2026. The debentures were offered on an agency basis by a syndicate of dealers led by CIBC World Markets Inc. and which includes BMO Nesbitt Burns Inc., National Bank Financial Inc., RBC Dominion Securities Inc., Scotia Capital Inc. and TD Securities Inc.

The net proceeds of the issue will be used for regulatory capital and general corporate purposes.

Empire Life provides individual and group life and health insurance, investment and retirement products to Canadians.

Further information can be found on Empire Life's website.