First National Financial issues USD175m unsecured notes.
Global Banking News-April 9, 2015--First National Financial issues USD175m unsecured notes
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Global Banking News - 09 April 2015
First National Financial Corporation (TSX: FN) (TSX: FN.PR.A), the parent company of First National Financial LP, has said that it has issued USD175m of new senior unsecured notes.
The notes, priced at USD99.96 each, were issued pursuant to a private placement under an offering memorandum for a five-year term, maturing on April 9, 2020. The notes bear interest at 4.01 percent, payable in equal semi-annual payments commencing October 9, 2015.
The net proceeds of the issuance will be invested in First National Financial LP, which in turn will repay a portion of the outstanding amount drawn on its bank credit facility, the company said.
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