On January 21, 2025, the Fédération des caisses Desjardins du Québec announced a C$1.25 billion offering of 4.264% Non-Viability Contingent Capital (NVCC) Subordinated Notes due 2035, which closed on January 24, 2025. The notes pay a fixed 4.264% interest until 2030, then reset to Daily Compounded CORRA + 1.47%.

The dealers were Desjardins Securities Inc., RBC Dominion Securities Inc., Scotia Capital Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., TD Securities Inc., National Bank Financial Inc., Casgrain & Company Limited, Laurentian Bank Securities Inc., and Manulife Wealth Inc. The dealers' fee was C$4.375 million (0.35%).

Stikeman Elliott LLP advised Desjardins, while the dealers were advised by Fasken Martineau DuMoulin LLP. Net proceeds of C$1.245 billion will support Desjardins’ regulatory capital. The notes are not publicly listed.