First Nations Finance Authority

First Nations Finance Authority in its $354 million offering of Senior Secured Bonds


First Nations Finance Authority


$354 million


Capital Markets

Date Closed

January 2021


Government and Public Sector

Lead Office



On January 25, 2021, First Nations Finance Authority (“FNFA”) completed its offering of an additional $354 million aggregate principal amount of 1.71% Senior Secured Bonds due June 2030. The offering was made through an underwriting syndicate comprised of National Bank Financial Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., TD Securities Inc., Laurentian Bank Securities Inc., RBC Dominion Securities Inc., Scotia Capital Inc., and Casgrain & Company Limited. 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 First Nations Finance Authority with a team led by Trevor Scott and including Ian Morrison (Corporate) and Megan Young (Articling Student).