First Nations Finance Authority

First Nations Finance Authority in its $357 million offering of Senior Secured Bonds


First Nations Finance Authority


$357 million


Capital Markets

Date Closed

January 2024


Banking and Financial Services

Lead Office



On January 24, 2024, the First Nations Finance Authority (“FNFA”) completed its offering of $357 million in aggregate principal amount of 4.10% Senior Secured Bonds, Series 2024-1, due June 1, 2034. The offering was made through an underwriting syndicate comprised of CIBC World Markets Inc., BMO Nesbitt Burns Inc., Scotia Capital Inc., National Bank Financial Inc., RBC Dominion Securities Inc., TD Securities Inc., Laurentian Bank 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 (Corporate) and included Ian Morrison (Emerging and High Growth Companies) and Matthew Li (Articling Student).