Date Closed

April 1, 2024

Lead Office

Toronto

Value

200.00 Million CAD

On April 1, 2024, First National Financial Corporation (“First National”) closed its offering of 3.6 year senior unsecured notes in a principal amount of C$200 million. The notes were issued on a private placement basis and bear interest at 6.261% per annum. First National intends to use the net proceeds of the offering to make a loan to First National Financial LP (the “Partnership”), which will allow the Partnership to repay indebtedness under its bank credit facility and use it for general partnership purposes.

First National is the parent company of the Partnership, a Canadian based originator, underwriter and servicer of predominantly prime residential (single-family and multi-unit) and commercial mortgages.

McCarthy Tétrault advised First National with a team led by Andrew Parker that included Suzie Cusson, Rebecca Summers, David Frost and Philippe Leclerc (Business) and Patrick McCay, Kabir Jamal and Dean Xiao (Tax).