First National Financial Corporation announced its intention to issue $200,000,000 of new senior unsecured notes. The notes will be issued at a price of $999.99 per $1,000 principal amount pursuant to a private placement under an offering memorandum for a three-year term maturing on September 8, 2026. The notes will bear interest at 7.293% payable in semi-annual payments commencing March 8, 2024.

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 for general partnership purposes. The offering is expected to close on September 6, 2023. The senior unsecured notes were offered through a syndicate of dealers co-led by RBC Capital Markets and TD Securities, supported by BMO Nesbitt Burns, CIBC World Markets, National Bank Financial, Scotia Capital, Desjardins Securities and Laurentian Bank Securities.