iA Financial Invests in Australian HospitalBy Andrew Rickard | June 24 2015 01:19PM
Industrial Alliance Insurance and Financial Services (iA Financial) has made its second investment in Australia.
On June 22, the Quebec-based insurer announced that it had invested $25 million (AUS) in a debenture with a 25-year term from the New Royal Adelaide Hospital in Adelaide, South Australia.
iA Financial first set up an Australian debenture investment program in 2013, and it focuses mainly on infrastructure projects and corporate issuers with excellent solvency.
"We are particularly proud of this investment for a number of reasons, including its duration: 25 years is considered a very long term in the Australian market," says Michel Tremblay, Executive Vice-President and Chief Investment Officer at iA Financial. "It's also an investment that will generate stable revenues while fitting nicely within an acceptable risk profile."