(September 29 – 15:30 ET) – Clarica Life Insurance Co. has filed a preliminary short form prospectus today in all Canadian provinces for an offering of approximately $300 million debentures, Series 3, due 2015 representing subordinated indebtedness of Clarica.

The insurance company says that net proceeds from the debentures will enlarge and diversify Clarica’s capital base. The debentures have been provisionally rated (A(high)) by Dominion Bond Rating Service Limited, (A+) by Standard & Poor’s Rating Service and (A2) by Moody’s Investor Service and a+ by A.M. Best Company.
-IE Staff