By Mary-Katherine Stinson
Lexington, Ky., June 23 – Fiera Capital Corp. placed C$100 million of senior subordinated debentures with Fonds de solidarite FTQ in a private placement, according to a company release Thursday.
The debentures bear interest at a rate of 6% and mature June 30, 2027.
The debentures were issued at par.
They are redeemable at the company’s option, in whole or in part, at a premium calculated according to the debenture’s terms plus interest before June 30, 2026. On or after that date, it will be redeemable at par plus interest.
The company will have the option to satisfy the redemption price or repay principal or interest by issuing and freely tradeable Class A subordinate voting shares on each interest payment date.
Proceeds will be used for the previously announced redemption of all the company’s C$86.25 million 5% convertible unsecured subordinated debentures due June 30, 2023, which will be completed on June 30. Any remaining balance will be used to pay down the company's revolving credit facility.
Fiera Capital is a Montreal-based independent asset management firm with more than C$123 billion under management.
| Issuer: | Fiera Capital Corp.
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| Securities: | Senior subordinated debentures
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| Amount: | C$100 million
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| Maturity: | June 30, 2027
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| Coupon: | 6%
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| Price: | Par
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| Yield: | 6%
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| Call options: | Make-whole call before June 30, 2026; at par plus interest on or after June 30, 2026
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| Distribution: | Private placement
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