IGM Financial Inc. announced on May 24, 2023, and closed on May 26, 2023, a $300 million offering of 5.426% debentures maturing in 2053. Net proceeds of $297.75 million will support its $622 million acquisition of a 20.5% stake in Rockefeller Capital Management and general corporate purposes.

The offering was led by BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., CIBC World Markets Inc., National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., Casgrain & Company Limited, and Laurentian Bank Securities Inc., earning $1.5 million in fees. Legal advisors included Blake, Cassels & Graydon LLP for IGM and Torys LLP for the agents.

The debentures, rated A (High) by DBRS Morningstar and A by S&P, are not exchange-listed and feature semi-annual interest payments.