On July 2, 2019, Fairstone Financial Inc. announced the completion of its US$300 million senior note offering and a simultaneous cross-currency swap to Canadian dollars to cover its currency risk on the US denominated Notes. Fairstone intends to use the net proceeds from the Notes to repay a secured loan facility and for general corporate purposes.
Fairstone Financial is Canada’s leading non-bank provider of responsible lending solutions for near-prime borrowers and non-prime borrowers. Fairstone is located across Canada with over 235 branches.
Osler, Hoskin & Harcourt LLP advised Fairstone Financial Inc. with a team consisting of François Paradis, Jason Comerford, Jeremy Brisset, Jie Chai, Mary Opolko (Corporate), Etienne Massicotte (Banking and Financial Services).