On June 23, 2022, Fiera Capital Corporation, a leading independent asset management firm, completed the private placement of a senior subordinated unsecured debenture in a principal amount of $100 million to Fonds de solidarité FTQ issued at par.
The debenture bears interest at a rate of 6.00% 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 Fiera Capital’s option, before June 30, 2026, at a price equal to the principal plus accrued and unpaid interest and a premium calculated in accordance with the terms of the debenture and, on or after June 30, 2026, at par plus accrued and unpaid interest.
Fiera Capital will have the option to satisfy the redemption price or repay the principal amount of the debenture due at redemption or maturity and pay interest on the debenture on each interest payment date by issuing and delivering freely tradeable Class A subordinate voting shares. The debenture will not be convertible into Class A subordinate voting shares at the option of the holder. The debenture ranks pari passu with Fiera Capital’s 5.60% senior subordinated unsecured debentures maturing July 31, 2024.
The net proceeds of the private placement of the debenture were mainly used in connection with the redemption of the $86.25 million aggregate principal amount of 5.00% convertible unsecured subordinated debentures due June 30, 2023.
Fasken represented Fiera Capital Corporation with a team that included Jean Michel Lapierre, Félix Gutierrez and Alexandre Morin.
Jurisdiction
- Québec
