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iA Financial Group Announces the Closing of Offering of $300 million of 3.187% Fixed/Floating Unsecured Subordinated Debentures
iA Financial Group Announces the Closing of Offering of $300 million of 3.187% Fixed/Floa...
About this update from Ia Financial Corporation Inc.
[{"type":"text","content":"\n \n \n \n iA Financial Group Announces the Closing of Offering of $300 million of 3.187% Fixed/Floating Unsecured Subordinated Debentures\n \n \n /* Style Definitions */\nspan.prnews_span\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\na.prnews_a\n{\ncolor:blue;\n}\nli.prnews_li\n{\nfont-size:8pt;\nfont-family:\"Arial\";\ncolor:black;\n}\np.prnews_p\n{\nfont-size:0.62em;\nfont-family:\"Arial\";\ncolor:black;\nmargin:0in;\n}\n.prntac{\nTEXT-ALIGN: CENTER\n}\n \n \n \n \n \n \n Canada NewsWire\n \n \n \n \n \n \n /NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN\n \n THE UNITED STATES\n \n ./\n \n \n \n \n \n QUÉBEC CITY\n \n ,\n \n \n Feb. 25, 2022\n \n \n /CNW Telbec/ - iA Financial Group (the \"Company\") announced today the closing of its previously announced offering of\n \n $300 million\n \n aggregate principal amount of 3.187% fixed/floating unsecured subordinated debentures due\n \n February 25, 2032\n \n (the \"Debentures\").\n \n \n The Debentures were issued as \"Sustainability Bonds\" under the iA Financial Group Sustainability Bond Framework (the \"\n \n Framework\n \n \") and represent Company's inaugural sustainability bonds. The Framework is available on the Company's website at\n \n ia.ca\n \n .\n \n \n The Debentures will mature on\n \n February 25, 2032\n \n and, for the period from\n \n February 25, 2022\n \n to but excluding\n \n February 22, 2027\n \n , will bear interest at a fixed annual rate of 3.187%, payable semi-annually, and, for the period from\n \n February 25, 2027\n \n to but excluding\n \n February 25, 2032\n \n , will bear interest at a variable annual rate equal to the 3‑month bankers' acceptance rate (CDOR) plus 0.91%, payable quarterly. Subject to prior regulatory approval, the Company may redeem the Debentures, in whole or in part, on or after\n \n February 25, 2027\n \n .\n \n \n The Debentures have been rated \"A (low)\" by DBRS Limited and \"A-\" by S&P Global Ratings, a division of S&P Global, Inc.\n \n \n The Debentures were offered through a syndicate of agents led by CIBC World Markets Inc., National Bank Financial Inc. and TD Securities Inc., as co-leads and bookrunners, and including BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., Scotia Capital Inc. and iA Private Wealth Inc. CIBC World Markets Inc. a...