First National Financial LP

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As a public company, First National reports its financial results quarterly and issues dividend announcements on or about the 15th day of each month. You will find our most recent announcements and a library of past news releases here.

First National Financial Corporation to issue $200 Million of 3.6 year unsecured notes

Mar 21, 2024

For Immediate Release

Toronto, Ontario, March 21, 2024 – First National Financial Corporation (TSX: FN, TSX:FN.PR.A, TSX:FN.PR.B) (“First National”) today announced its intention to issue $200 million of new senior unsecured notes.

The notes will be issued at a price of $999.91 per $1,000 principal amount pursuant to a private placement under an offering memorandum for a three-year seven-month term maturing on November 1, 2027. The notes will bear interest at 6.261% payable in semi-annual payments with the first payment payable on November 1, 2024. First National intends to use the net proceeds of the offering to make a loan to First National Financial LP (the “Partnership”), which will allow the Partnership to repay indebtedness under its bank credit facility and use for general partnership purposes. The offering is expected to close on April 1, 2024. The senior unsecured notes were offered through a syndicate of dealers co-led by RBC Capital Markets and TD Securities, supported by BMO Capital Markets, CIBC Capital Markets, National Bank Financial, Scotiabank, Desjardins Securities and Laurentian Bank Securities.

About First National Financial Corporation

First National Financial Corporation (TSX:FN, TSX:FN.PR.A, TSX:FN.PR.B) is the parent company of the Partnership, a Canadian-based originator, underwriter and servicer of predominantly prime residential (single-family and multi-unit) and commercial mortgages. With over $143 billion in mortgages under administration, First National is one of Canada’s largest non-bank mortgage originators and underwriters and is among the top three in market share in the mortgage broker distribution channel. For more information, please visit

Forward-Looking Information

Certain information included in this news release may constitute forward-looking information within the meaning of securities laws, including the expected closing date and the intended use of proceeds of the offering. Forward-looking information is based on certain factors and assumptions including future debt requirements. Forward-looking information should not be read as providing guarantees of future performance or results, and will not necessarily be an accurate indication of whether or not, or the times by which, those results will be achieved. While management considers these assumptions to be reasonable based on information currently available, they may prove to be incorrect. Forward looking-information is subject to certain factors, including risks and uncertainties listed under “Risk and Uncertainties Affecting the Business” in the management’s discussion and analysis (“MD&A”) of financial condition and results of operations of First National prepared as of March 5, 2024 filed at that could cause actual results to differ materially from what management currently expects. This forward-looking information is as of the date of this release, and is subject to change after such date. However, management and First National disclaim any intention or obligation to update or revise any forward-looking information, whether as a result of new information, future events or otherwise, except as required under applicable securities regulations.

For further information:

Robert Inglis
Chief Financial Officer
First National Financial Corporation
Tel: 416-593-1100

Ernie Stapleton
Fundamental Creative Inc.
Tel: 905-483-5331

First National listed on the TSX in 2006 and is known for consistent profitability and effective risk management.