iA Financial Group Announces the Closing of Offering of $400 million of 4.131% Fixed/Floating Unsecured Subordinated Debentures

/NOT FOR DISTRIBUTION TO U.S. NEWSWIRE SERVICES OR FOR DISSEMINATION IN THE UNITED STATES./

QUÉBEC CITY, Dec. 5, 2024 /CNW/ - iA Financial Group (the "Company") announced today the closing of its previously announced offering of $400 million aggregate principal amount of 4.131% fixed/floating unsecured subordinated debentures due December 5, 2034 (the "Debentures").

The Debentures will mature on December 5, 2034. Interest on the Debentures at the rate of 4.131% per annum will be payable in arrears in equal semi-annual installments on June 5 and December 5, in each year, commencing on June 5, 2025 and continuing until December 5, 2029. From December 5, 2029, interest on the Debentures will be payable at a rate per annum equal to Daily Compounded CORRA plus 1.35% payable quarterly in arrears on the 5th day of each of March, June, September and December in each year, commencing on March 5, 2030. Subject to prior regulatory approval, the Company may redeem the Debentures, in whole or in part, on or after December 5, 2029.

The Debentures have been assigned a rating of "A (low)" by DBRS Limited and "A-" by S&P Global Ratings, a division of S&P Global, Inc.

The Debentures were offered through a syndicate of agents led by National Bank Financial Markets, RBC Capital Markets and TD Securities, as co-leads and bookrunners, and including, BMO Capital Markets, CIBC Capital Markets, Scotiabank, iA Private Wealth Inc., Casgrain & Company Limited and UBS Investment Bank.

The Debentures were issued under a prospectus supplement dated December 2, 2024 to the short form base shelf prospectus dated April 25, 2024. Details of the offering are set out in the prospectus supplement which is available on the SEDAR+ website at www.sedarplus.ca and on the Company's website at www.ia.ca.

Notice

This press release does not constitute an offer to sell or the solicitation of an offer to buy any security and shall not constitute an offer, solicitation or sale of any securities in any jurisdiction in which such offering, solicitation or sale would be unlawful.

The Debentures have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or the securities laws of any state of the United States of America, and may not be offered, sold or delivered, directly or indirectly, within the United States, its territories, its possessions and other areas subject to its jurisdiction or to, or for the account or benefit of, U.S. persons (as defined in Regulation S under the U.S. Securities Act), except in certain transactions exempt from, or not subject to, the registration requirements of the U.S. Securities Act and applicable state securities laws. This press release does not constitute an offer to sell or a solicitation of an offer to buy any of these securities within the United States.

About iA Financial Group

iA Financial Group is one of the largest insurance and wealth management groups in Canada, with operations in the United States. Founded in 1892, it is an important Canadian public company and is listed on the Toronto Stock Exchange under the ticker symbol IAG (common shares).

iA Financial Group is a business name and trademark of iA Financial Corporation Inc. and Industrial Alliance Insurance and Financial Services Inc.

SOURCE iA Financial Group