On June 16, 2020, First Nations Finance Authority (“FNFA”) completed its offering of a $240 million principal amount of new 1.71% Senior Secured Bonds due June 2030. The offering was made through an underwriting syndicate comprised of National Bank Financial Inc., Laurentian Bank Securities Inc., RBC Dominion Securities Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., TD Securities Inc., and Casgrain & Company Limited. The proceeds from the offering will be used to finance multi-purpose administrative buildings, fisheries, community stores, business acquisitions, land purchases and hydroelectrical and power projects. This is the largest transaction to date for FNFA.
FNFA is a statutory not-for-profit organization without share capital. FNFA’s purposes are to provide First Nations governments with investment options and capital planning advice and access to long-term loans with preferable interest rates.
Osler, Hoskin & Harcourt LLP acted as counsel to FNFA with a team led by Trevor Scott and including Ian Morrison (Corporate).