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

March 2022


Banking and Financial Services

Lead Office



On March 2, 2022, the First Nations Finance Authority (“FNFA”) completed its offering of a $354 million aggregate principal amount of 2.85% Senior Secured Bonds, Series 2022-1, due June 1, 2032. The offering was made through an underwriting syndicate comprised of National Bank Financial Inc., Scotia Capital Inc., CIBC World Markets Inc., TD Securities Inc., BMO Nesbitt Burns Inc., Laurentian Bank Securities Inc., RBC Dominion Securities Inc. and Casgrain & Company Limited.

FNFA is a statutory not-for-profit organization. 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, Megan Young, Sylvia Rowat and Christian Garton (Corporate).