Intact Financial completes C$150 million preferred share offering

Torys acted as counsel to TD Securities and the syndicate of underwriters with a team that included David Seville, Michael Jason and Christopher Tworzyanski (corporate/securities).

On March 15, 2022, Intact Financial Corporation ("Intact" or the "Company") closed its previously announced bought deal offering of non-cumulative Class A shares, Series 11 underwritten by a syndicate of underwriters led by TD Securities Inc. together with BMO Capital Markets, CIBC Capital Markets, National Bank Financial, RBC Capital Markets and Scotiabank, resulting in aggregate gross proceeds to Intact of C$150 million.

The net proceeds are expected to be used by Intact to fund a portion of the redemption price of all of the outstanding floating rate restricted notes of the Company's subsidiary, RSA Insurance Group Limited (formerly RSA Insurance Group plc) and/or for general corporate purposes.

Further information can be found on Canada Newswire’s website.

Intact Financial Corporation is the largest provider of property and casualty insurance in Canada, a leading provider of global specialty insurance, and, with RSA, a leader in the U.K. and Ireland.