09:39 AM EDT, 06/25/2024 (MT Newswires) -- iA Financial Corporation ( IAFNF ) completed its offering of $350 million 6.921% Limited Recourse Capital Notes Series 2024-1 due September 30, 2084.

The Notes have been assigned a rating of BBB (high) with a Stable trend by DBRS, and a rating of BBB+ by S&P Global Rating.

iA Financial ( IAFNF ) also issued 350,000 Non-Cumulative 5-Year Rate Reset Class A Preferred Shares, Series B, in connection with the Notes. The Series B shares offers notes holders recourse, subject to certain conditions, if interest or principal are not paid when due. These shares, held by Computershare Trust Company of Canada, have been assigned a rating of Pfd-2 with a Stable trend by Morningstar DBRS and a rating of BBB+ by S&P, using S&P's global debt rating scale.

The offering was made under the company's short form base shelf prospectus dated April 25, 2024.

Price: 86.04, Change: -0.05, Percent Change: -0.06