Co-operators General Insurance Company has issued an additional 600,000 Series D Preference Shares as to a syndicate of underwriters, the company said Friday.

The Non-Cumulative 5-Year Rate Reset Class E Preference Shares, Series D were to the issued at a price of $25 per Series D Preference Share for gross proceeds of $15 million as part of an over-allotment option.

The underwriters were co-led by Scotia Capital Inc. and TD Securities Inc. and included BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., Desjardins Securities Inc., National Bank Financial Inc., HSBC Securities (Canada) Inc., Blackmont Capital Inc., Dundee Securities Corporation and Industrial Alliance Securities Inc. (collectively, the “Underwriters”) of their over-allotment option.

Including the over-allotment option, total gross proceeds of the company’s public offering of Series D Preference Shares were $115 million.

The shares trade on the Toronto Stock Exchange under the symbol “CCS.PR.D”.

The net proceeds of the offering will be used for general corporate purposes, the company says.

IE