iA Financial closes offering of C$300 million of 3.187% fixed/floating unsecured subordinated debentures

On February 25, 2022, iA Financial Corporation Inc. (“iA Financial") announced the closing of its previously announced offering of C$300 million aggregate principal amount of 3.187% fixed/floating unsecured subordinated debentures due February 25, 2032.

The debentures were issued as "Sustainability Bonds" under the iA Financial Group Sustainability Bond Framework and represent its inaugural sustainability bond offering.

The debentures were offered on a best efforts agency basis 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 which included BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., Scotia Capital Inc. and iA Private Wealth Inc. CIBC World Markets Inc. and National Bank Financial Inc. were also Co-Sustainability Structuring Advisors.

The company intends to use an amount equal to the net proceeds from the sale of the debentures to finance or re-finance, in part or in full, new and/or existing eligible assets within each of the Green Eligible Categories and Social Eligible Categories, all as defined in the Framework.

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) and IAF (preferred shares).