iA Financial closes offering of C$400 million of institutional preferred shares

Torys acted as counsel to iA Financial with a team included David Seville, Jonathan Cescon, Jason Lamb, Nicole Beausoleil and Andrea Das-Wieczorek (corporate/securities).

On June 23, 2025, iA Financial Corporation Inc. (“iA Financial") announced the completion of its previously announced offering of C$400 million of 6.435% non-cumulative 5-year rate reset class A preferred shares Series C.

The preferred shares were sold to institutional investors on a best-efforts agency basis by a syndicate of agents co-led by RBC Capital Markets, National Bank Financial Markets and TD Securities.

The preferred shares have been assigned a rating of “Pfd-2” with a Stable trend by Morningstar DBRS (DBRS Limited) and a rating of “BBB+/P-2(High)” by S&P Global Ratings, a division of S&P Global, Inc.

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

iA Financial is one of the largest insurance and wealth management groups in Canada, with operations in the United States. Founded in 1892, it is an important Canadian public company and is listed on the Toronto Stock Exchange under the ticker symbols IAG (common shares).