First National Financial Corporation announced its intention to issue $200 million of new senior unsecured notes. The notes will be issued at a price of $999.91per $1,000principal amount pursuant to a private placement under an offering memorandum for a three-year seven-month term maturing on November 1, 2027. The notes will bear interest at 6.261% payable in semi-annual payments with the first payment payable on November 1, 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 April 1, 2024. The senior unsecured notes were offered through a syndicate of dealers co-led by RBC Capital Markets and TD Securities, supported by BMO Capital Markets, CIBC Capital Markets, National Bank Financial, Scotiabank, Desjardins Securities and Laurentian Bank Securities.