/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE
SERVICES OR FOR DISSEMINATION IN THE
UNITED STATES./
QUÉBEC CITY, Dec. 5, 2024
/CNW/ - iA Financial Group (the "Company")
announced today the closing of its previously announced offering of
$400 million aggregate principal
amount of 4.131% fixed/floating unsecured subordinated debentures
due December 5, 2034 (the
"Debentures").
The Debentures will mature on December 5,
2034. Interest on the Debentures at the rate of 4.131% per
annum will be payable in arrears in equal semi-annual installments
on June 5 and December 5, in each year, commencing on
June 5, 2025 and continuing until
December 5, 2029. From December 5, 2029, interest on the Debentures
will be payable at a rate per annum equal to Daily Compounded CORRA
plus 1.35% payable quarterly in arrears on
the 5th day of each of March, June, September
and December in each year, commencing on March 5, 2030. Subject to prior regulatory
approval, the Company may redeem the Debentures, in whole or in
part, on or after December 5, 2029.
The Debentures have been assigned a rating of "A (low)" by DBRS
Limited and "A-" by S&P Global Ratings, a division of
S&P Global, Inc.
The Debentures were offered through a syndicate of agents led
by National Bank Financial Markets, RBC Capital Markets and TD
Securities, as co-leads and bookrunners, and including, BMO Capital
Markets, CIBC Capital Markets, Scotiabank, iA Private Wealth Inc.,
Casgrain & Company Limited and UBS Investment Bank.
The Debentures were issued under a prospectus supplement dated
December 2, 2024 to the short form base shelf prospectus
dated April 25, 2024. Details of the offering are set out
in the prospectus supplement which is available on the SEDAR+
website at www.sedarplus.ca and on the Company's website at
www.ia.ca.
Notice
This press release does not constitute an offer to sell or the
solicitation of an offer to buy any security and shall not
constitute an offer, solicitation or sale of any securities in any
jurisdiction in which such offering, solicitation or sale would be
unlawful.
The Debentures have not been and will not be registered under
the United States Securities
Act of 1933, as amended (the "U.S. Securities Act") or
the securities laws of any state of the
United States of America, and may not be offered, sold or
delivered, directly or indirectly, within the United States, its territories, its
possessions and other areas subject to its jurisdiction or to, or
for the account or benefit of, U.S. persons (as defined in
Regulation S under the U.S. Securities Act), except in
certain transactions exempt from, or not subject to, the
registration requirements of the U.S. Securities Act and
applicable state securities laws. This press release does not
constitute an offer to sell or a solicitation of an offer to buy
any of these securities within the United
States.
About iA Financial Group
iA Financial Group is one of the largest insurance and
wealth management groups in Canada, with operations in the United States. Founded in 1892, it is an
important Canadian public company and is listed on the Toronto
Stock Exchange under the ticker symbol IAG (common
shares).
iA Financial Group is a business name and trademark of iA
Financial Corporation Inc. and Industrial Alliance Insurance and
Financial Services Inc.
SOURCE iA Financial Group