iA Financial Group announced the closing of its previously announced offering of $500 million aggregate principal amount of 4.158% fixed/floating unsecured subordinated debentures due May 26, 2036.
The debentures will mature on May 26, 2036. Interest at a fixed rate of 4.158% per year will be paid in equal semi-annual installments on May 26 and November 26 of each year, beginning November 26, 2026, through May 26, 2031.
Beginning May 26, 2031, the debentures will transition to a floating interest rate structure based on Daily Compounded CORRA plus 1.15%, with quarterly payments due on February 26, May 26, August 26, and November 26 each year, starting August 26, 2031. Subject to regulatory approval, the company may redeem the debentures, in whole or in part, on or after May 26, 2031.
The offering received ratings of “A (low)” from DBRS Limited and “A-” from S&P Global Ratings.
The debentures were offered through a syndicate of agents led by RBC Capital Markets, BMO Capital Markets, and CIBC Capital Markets as co-leads and bookrunners. Additional participants included National Bank Financial Markets, Scotiabank, TD Securities, iA Private Wealth Inc., Casgrain & Company Limited, and UBS Investment Bank.
The securities were issued under a prospectus supplement dated May 21, 2026, to the company’s short form base shelf prospectus dated May 12, 2026.
Founded in 1892, iA Financial Group is one of Canada’s largest insurance and wealth management organizations, with operations in the United States. The company trades on the Toronto Stock Exchange under the ticker symbol IAG.
