Fiera Capital greenshoe raises convertibles sale to C$86.25 million

New York, Dec. 21 – Fiera Capital Corp. said that the underwriters for its recent offering of 5% convertible unsecured subordinated debentures due June 2023 exercised the C$11.25 million over-allotment option in full, raising the size of the sale to $86.25 million.

The underwriters also used the greenshoe on the concurrent sale of class A subordinate voting shares, lifting that offering to 6,347,000 shares, or C$82.5 million, from 5.77 million shares. The stock was sold at C$13.00 per share.

Fiera Capital originally priced C$75 million of the convertibles on Dec. 5 at par to yield 5% with a 40% initial conversion premium.

National Bank Financial Inc., Desjardins Capital Markets and Scotiabank were joint bookrunners.

The convertibles started trading on the Toronto Stock Exchange under the symbol “FSZ.DB” on Thursday.

Proceeds will be used to fund current and future acquisitions, to pay down debt and for general corporate purposes.

Fiera Capital is Montreal-based independent asset management firm with more than C$123 billion under management.

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