On June 8, 2023, Fiera Capital Corporation issued $65 million of senior subordinated unsecured debentures, maturing December 31, 2026. The offering was led by joint bookrunners RBC Capital Markets, CIBC Capital Markets, and Desjardins Capital Markets, with additional underwriters including National Bank Financial Inc., Scotiabank, BMO Nesbitt Burns Inc., TD Securities Inc., Raymond James Ltd., and iA Private Wealth Inc. The debentures bear an interest rate of 8.25% per annum, payable semi-annually. An additional $9.75 million debentures option was granted to the underwriters, exercisable within 30 days of closing.

The net proceeds will fund the redemption of Fiera's $110 million, 5.60% debentures due July 31, 2024, and general corporate purposes. Fiera Capital was advised by Fasken Martineau DuMoulin LLP, while the underwriters received counsel from Norton Rose Fulbright Canada LLP. The transaction is subject to regulatory approvals and is expected to close on June 29, 2023.