/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES
OR DISSEMINATION IN THE UNITED
STATES/
MONTREAL, June 29,
2023 /CNW/ - Fiera Capital Corporation ("Fiera
Capital" or the "Company") (TSX: FSZ) is pleased to announce that
it has completed its previously announced bought deal public
offering of $65 million aggregate
principal amount of 8.25% senior subordinated unsecured debentures
(the "Debentures") at a price of $1,000 per Debenture (the "Offering"). The
Debentures bear interest at a rate of 8.25% per annum, payable
semi-annually in arrears on June 30 and December 31 of each year, with the first interest
payment on December 31, 2023. The
Debentures will mature on December 31,
2026. The Debentures will commence trading on the Toronto
Stock Exchange under the symbol "FSZ.DB.B".
The net proceeds of this Offering will be used to partially fund
the redemption of the Company's $110
million aggregate principal amount of 5.60% senior
subordinated unsecured debentures due July
31, 2024 (the "2024 Debentures") that the Company intends to
effect promptly after the closing of the Offering, and for general
corporate purposes. The foregoing is not a redemption notice with
respect to the 2024 Debentures. Any redemption of the 2024
Debentures will be made pursuant to a notice of redemption under
the indenture governing those securities.
RBC Capital Markets, CIBC Capital Markets and Desjardins Capital
Markets acted as joint-bookrunners, on behalf of a syndicate of
underwriters which also included National Bank Financial Inc.,
Scotia Capital Inc., BMO Nesbitt Burns Inc., TD Securities Inc.,
Raymond James Ltd. and iA Private Wealth Inc. (collectively, the
"Underwriters").
The Company has also granted the Underwriters an option to
purchase up to an additional $9.75
million aggregate principal amount of Debentures, on the
same terms and conditions, exercisable in whole or in part, for a
period of 30 days following the closing of the Offering.
The securities have not been and will not be registered under
the U.S. Securities Act of 1933, as amended, and may not be offered
or sold in the United States
absent registration or an applicable exemption from the
registration requirements of such Act. This news release shall not
constitute an offer to sell or the solicitation of an offer to buy
nor shall there be any sale of the securities in any jurisdiction
in which such offer, solicitation or sale would be unlawful.
Forward-Looking
Statements
This document may contain certain forward-looking statements.
These statements relate to future events or future performance, and
reflect management's expectations or beliefs regarding future
events, including business and economic conditions and Fiera
Capital's growth, results of operations, performance and business
prospects and opportunities. In particular, this press release
includes forward-looking statements relating to the anticipated use
of the net proceeds of the Offering. Such forward-looking
statements reflect management's current beliefs and are based on
information currently available to management. In some cases,
forward-looking statements can be identified by terminology such as
"may", "will", "should", "expect", "plan", "anticipate", "believe",
"estimate", "predict", "potential", "continue", "target", "intend"
or the negative of these terms, or other comparable
terminology.
By their very nature, forward-looking statements involve
inherent risks and uncertainties, both general and specific, and a
number of factors could cause actual events or results to differ
materially from the results discussed in the forward-looking
statements. In evaluating these statements, readers should
specifically consider various factors that may cause actual results
to differ materially from any forward-looking statement.
These risks include, but are not limited to, market and general
economic conditions, the nature of the financial services industry,
and the risks and uncertainties detailed from time to time in Fiera
Capital's interim condensed and annual consolidated financial
statements, and its latest Annual Report and Annual Information
Form filed on www.sedar.com. These forward-looking statements are
made as of the date of this document, and Fiera Capital assumes no
obligation to update or revise them to reflect new events or
circumstances.
About Fiera Capital
Corporation
Fiera Capital is a leading independent asset management firm
with a growing global presence and approximately C$164.7 billion in assets under management as of
March 31, 2023. The Company delivers
customized and multi-asset solutions across public and private
market asset classes to institutional, financial intermediary and
private wealth clients across North
America, Europe and key
markets in Asia. Fiera Capital's
depth of expertise, diversified investment platform and commitment
to delivering outstanding service are core to Fiera Capital's
mission of being at the forefront of the investment management
science to foster sustainable prosperity for all our stakeholders.
Fiera Capital trades under the ticker FSZ on the Toronto Stock
Exchange.
Headquartered in Montreal,
Fiera Capital, with its affiliates in various jurisdictions, has
offices in over a dozen cities around the world, including
New York (U.S.), London (UK), and Hong Kong (SAR).
Each affiliated entity (each an "Affiliate") of Fiera Capital
only provides investment advisory or investment management services
or offers investment funds in the jurisdictions where the Affiliate
and/or the relevant product is registered or authorized to provide
services pursuant to an exemption from registration.
In the U.S., asset management services are provided by the
Company's Affiliates who are investment advisers that are
registered with the U.S. Securities and Exchange Commission ("SEC")
or exempt from registration. Registration with the SEC does not
imply a certain level of skill or training.
Additional information about Fiera Capital Corporation,
including the Company's Annual Information Form, is available on
SEDAR at www.sedar.com.
SOURCE Fiera Capital Corporation