Fiera Capital closes C$100m debenture with Fonds de solidarité FTQ

The debenture will mature on June 30, 2027.

  • As of March 31, 2022, Fiera has about C$174.5 billion in assets under management
  • Fiera Capital trades on the Toronto Stock Exchange
  • It is an asset manager that works with institutional, financial intermediary and private wealth clients across North America, Europe and key markets in Asia

Montreal-based Fiera Capital Corp has closed a C$100 million senior subordinated unsecured debenture with Fonds de solidarité FTQ.

The debenture bears interest at a rate of 6.00 percent per annum, payable semi-annually in arrears, and will mature on June 30, 2027. The debenture will be redeemable in whole or in part at the company’s option, before June 30, 2026.

The net proceeds of the private placement of the Debenture will be used in connection with the previously announced redemption of all of the C$86.25 million aggregate principal amount of its 5.00% convertible unsecured subordinated debentures due June 30, 2023, which will be completed on June 30, 2022, and the remaining balance will be applied against amounts drawn under the company’s revolving credit facility.

On the deal, Lucas Pontillo, executive vice president and global chief financial officer of Fiera, said in a statement: “We are pleased with the completion of this private placement which represents another step in the implementation of an optimal capital structure and prudent management of our overall leverage. We also strive to continue to develop strong financial partnerships with key institutional investors and appreciate the relationship we have developed with the Fonds de solidarité FTQ and their commitment to Fiera Capital.”