iA Financial Group announced an offering of $500 million aggregate principal amount of 4.158% fixed/floating unsecured subordinated debentures due May 26, 2036.
The offering is expected to close on or about May 26, 2026. The company said it intends to use the net proceeds for general corporate purposes, including potential investments in subsidiaries and repayment of indebtedness.
The debentures will mature on May 26, 2036. Interest at a fixed annual rate of 4.158% will be payable in equal semi-annual installments on May 26 and November 26 each year, beginning November 26, 2026 and continuing until May 26, 2031.
Beginning May 26, 2031, the interest rate will transition to a floating rate equal to Daily Compounded CORRA plus 1.15%, payable quarterly in arrears on February 26, May 26, August 26 and November 26 of each year, commencing August 26, 2031.
The offering is being conducted on a best efforts agency basis by a syndicate of agents led by RBC Capital Markets, BMO Capital Markets and CIBC Capital Markets as co-leads and bookrunners. The syndicate also includes National Bank Financial Markets, Scotiabank, TD Securities, iA Private Wealth Inc., Casgrain & Company Limited and UBS Investment Bank.
The debentures will be offered in each Canadian province under a shelf prospectus supplement to the company’s short form base shelf prospectus dated May 12, 2026. The company noted that the prospectus supplement, shelf prospectus and any amendments to the documents will be accessible through SEDAR+ within two business days.
The company also stated that the press release does not constitute an offer to sell or a solicitation of an offer to buy securities in any jurisdiction where such an offering would be unlawful.
