Industrial Alliance Insurance and Financial Services Inc. said Friday that Industrial Alliance Capital Trust has filed a final prospectus for a $150-million offering of Industrial Alliance Trust Securities – Series A.

The securities will have an expected term of 10 years and will carry an annual yield of 5.714%, payable semi-annually. The offering is expected to close July 4.

“The issue of IATS will provide Industrial Alliance with increased financial flexibility to pursue its growth strategy. This source of financing will also allow us to optimize our capital structure, while further improving the financial solidity that characterizes the company,” Yvon Charest, president and CEO of Quebec City-based Industrial Alliance, said in a statement.