iA Financial Corporation Inc. completes C$350 million offering of Limited Recourse Capital Notes Series 2024-1
On June 25, 2024, iA Financial Corporation Inc. completed its offering of C$350 million aggregate principal amount of 6.921% Limited Recourse Capital Notes Series 2024-1 due September 30, 2084.
Concurrently, the transaction involved the distribution of 350,000 Non-Cumulative 5-Year Rate Reset Class A Preferred Shares, Series B in connection with the issuance of the Notes.
The offering was completed by a syndicate of agents led by CIBC World Markets Inc., National Bank Financial Inc. and RBC Dominion Securities Inc., as co-leads and including BMO Nesbitt Burns Inc., Scotia Capital Inc., TD Securities Inc., iA Private Wealth Inc., Casgrain & Company Limited and UBS Securities Canada Inc.
iA Financial Group is one of the largest insurance and wealth management groups in Canada, with operations in the United States.
McCarthy Tétrault LLP advised the syndicate of agents with a team led by Andrew Parker that included Charles-Antoine Soulière, Vincent Laurin, Asma Boudoukha (Corporate), Kabir Jamal, Michel Ranger and Camille Bélanger (Tax).
