Great-West Lifeco closes C$200 million offering of Series 24 preferred shares
Torys acted as counsel to BMO Capital Markets, RBC Capital Markets, Scotiabank and the syndicate of underwriters with a team that included David Seville, Michael Murphy and Arron Chahal (corporate/securities), Jerald Wortsman and Stan Fedun (tax).
On June 22, 2026, Great-West Lifeco Inc. ("Great-West Lifeco") closed its previously announced public offering of 8,000,000 5.70% non-cumulative first preferred shares, Series 24, at a price of C$25.00 per share, for gross proceeds of C$200 million, including the full exercise of the underwriters' option.
The offering was completed through a syndicate of underwriters led by BMO Capital Markets, RBC Capital Markets, and Scotiabank, on a bought deal basis. The shares will yield 5.70% per annum, payable quarterly, as and when declared by the Great West Board of Directors.
Net proceeds of the offering will be used for general corporate purposes.
Further information can be found on Globe Newswire’s website.
Great-West Lifeco is a financial services holding company focused on building stronger, more inclusive and financially secure futures. Great-West Lifeco operates in Canada, the United States and Europe under the brands Canada Life, Empower and Irish Life. As of March 31, 2026, Great-West Lifeco's total client assets were C$3.3 trillion.