iA Financial Group Announces the Closing of Offering of $500 million of 4.158% Fixed/Floating Unsecured Subordinated Debentures
Not for distribution to U.S. newswire services or for dissemination in the United States.
iA Financial Group (the “Company”) announced today the closing of its previously announced offering of $500 million aggregate principal amount of 4.158% fixed/floating unsecured subordinated debentures due May 26, 2036 (the “Debentures”).
The Debentures will mature on May 26, 2036. Interest on the Debentures at the rate of 4.158% per annum will be payable in arrears in equal semi-annual installments on May 26 and November 26, in each year, commencing on November 26, 2026 and continuing until May 26, 2031. From May 26, 2031, interest on the Debentures will be payable at a rate per annum equal to Daily Compounded CORRA plus 1.15% payable quarterly in arrears on the 26th day of each of February, May, August and November in each year, commencing on August 26, 2031. Subject to prior regulatory approval, the Company may redeem the Debentures, in whole or in part, on or after May 26, 2031.
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.
