First National Financial Corporation closes secondary offering of 2,000,000 common shares

Torys acted as counsel to the underwriters led by RBC Capital Markets and TD Securities with a team that included Philip Mohtadi, Jessica Palter and Erin Smart.

On March 21, 2014, First National Financial Corporation (First National) announced the closing of the previously announced secondary offering by a corporation wholly-owned and controlled by Moray Tawse, Co-Founder and Executive Vice President of First National (the "selling shareholder") of 2,000,000 common shares of First National at a price of C$24.90 per common share, for aggregate gross proceeds to the selling Shareholder of approximately C$49.8 million. The offering was completed on a bought deal basis by an underwriting syndicate co-led by RBC Capital Markets and TD Securities Inc., and also including BMO Capital Markets, Scotiabank, CIBC and National Bank Financial Inc.

First National Financial Corporation is the parent company of First National Financial LP, a Canadian-based originator, underwriter and servicer of predominantly prime residential (single-family and multi-unit) and commercial mortgages, with over C$75 billion in mortgages under administration.

Further information can be found on Canada Newswire's website.