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iA Financial Group Announces the Closing of Offering of $400 million of 4.131% Fixed/Floating Unsecured Subordinated Debentures
iA Financial Group Announces the Closing of Offering of $400 million of 4.131% Fixed/Floating Uns...
About this update from Ia Financial Corporation Inc.
[{"type":"text","content":"\n\n\n\n iA Financial Group Announces the Closing of Offering of $400 million of 4.131% 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 Dec. 5, 2024\n \n\n /CNW/ - iA Financial Group (the \"\n \n Company\n \n \") announced today the closing of its previously announced offering of\n \n $400 million\n \n aggregate principal amount of 4.131% fixed/floating unsecured subordinated debentures due\n \n December 5, 2034\n \n (the \"\n \n Debentures\n \n \").\n \n\n The Debentures will mature on\n \n December 5, 2034\n \n . Interest on the Debentures at the rate of 4.131% per annum will be payable in arrears in equal semi-annual installments on June 5 and December 5, in each year, commencing on\n \n June 5, 2025\n \n and continuing until\n \n December 5, 2029\n \n . From\n \n December 5\n \n , 2029, interest on the Debentures will be payable at a rate per annum equal to Daily Compounded CORRA plus 1.35% payable quarterly in arrears on the 5\n \n th\n \n day of each of March, June, September and December in each year, commencing on\n \n March 5, 2030\n \n . Subject to prior regulatory approval, the Company may redeem the Debentures, in whole or in part, on or after December 5, 2029.\n \n\n The Debentures have been assigned a rating of \"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 National Bank Financial Markets, RBC Capital Markets and TD Securities, as co-leads and bookrunners, and including, BMO Capital Markets, CIBC Capital Markets, Scotiabank, iA Private Wealth Inc., Casgrain & Company Limited and UBS Investment Bank.\n \n\n The Debentures were issued under a prospectus supplement dated December 2, 2024 to the short form base shelf p...