First Nations Finance Authority

First Nations Finance Authority in the establishment of a $400 million Commercial Paper Program


First Nations Finance Authority


$400 million


Capital Markets

Date Closed

September 2021


Banking and Financial Services

Lead Office



In September of 2021, the First Nations Finance Authority (FNFA) established a $400 million commercial paper program. The Toronto Dominion Bank, Bank of Montreal, Canadian Imperial Bank of Commerce, National Bank Financial and Scotia Capital are acting as dealers.

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 the FNFA with a team led by Trevor Scott and including Ian Morrison (Corporate).