iA Financial Corporation Inc. announced on December 2, 2024, the issuance of C$400 million aggregate principal amount of 4.131% fixed/floating unsecured subordinated debentures due December 5, 2034. The offering closed on December 5, 2024. The debentures carry a fixed annual interest rate of 4.131% until December 5, 2029, after which they will bear interest at a floating rate equal to the Daily Compounded CORRA plus 1.35% until maturity. They are not listed on any exchange.

The issue was conducted through a syndicate of agents led by National Bank Financial Markets, RBC Capital Markets, and TD Securities, as co-leads and bookrunners, with participation from BMO Capital Markets, CIBC Capital Markets, Scotiabank, iA Private Wealth Inc., Casgrain & Company Limited, and UBS Investment Bank. Net proceeds of approximately C$397.51 million will be used for general corporate purposes.

Legal counsel for iA Financial was Torys LLP, while McCarthy Tétrault LLP advised the syndicate of agents with a team led by Andrew Parker and Charles-Antoine Soulière, supported by corporate and tax specialists. Headquartered in Quebec, iA Financial Group is among Canada’s largest insurance and wealth management companies, with operations extending into the United States.