Intact Financial Corporation Announces $150 Million Preferred Share Offering

Executive Summary

• Intact Financial Corporation entered into a bought‑deal underwriting agreement for the sale of 6,000,000 Series 13 non‑cumulative Class A shares at $25.00 per share, targeting gross proceeds of $150 million.
• The shares carry a 5.50% annual dividend (payable quarterly) and are redeemable by Intact starting December 31, 2030 on a sliding‑scale price schedule through 2034.
• Net proceeds are earmarked for general corporate purposes; the offering is expected to close on November 12, 2025.

Key Details

• Underwriters: Syndicate led by BMO Capital Markets and National Bank Capital Markets (bought‑deal basis).
• Shares Offered: 6,000,000 Non‑Cumulative Class A Shares, Series 13.
• Offering Price: $25.00 per share.
• Gross Proceeds: $150 million.
• Dividend Yield: 5.50% per annum, payable quarterly, when declared by the Board.
• Redemption Terms:
• Not redeemable before 31 Dec 2030.
• Redemption price schedule after 31 Dec 2030:
  • $26.00 (until 31 Dec 2031)
  • $25.75 (until 31 Dec 2032)
  • $25.50 (until 31 Dec 2033)
  • $25.25 (until 31 Dec 2034)
  • $25.00 thereafter, plus any accrued but unpaid dividends.
• Closing Date: Expected on 12 Nov 2025.
• Use of Proceeds: General corporate purposes.
• Regulatory Access: Prospectus Supplement and Base Shelf Prospectus available on SEDAR+ within two business days; not registered under U.S. securities laws, unavailable to U.S. persons absent exemption.
• Distribution Channels: Offered in all Canadian provinces and territories under the prospectus supplement to the short‑form base shelf prospectus dated 15 Jan 2024.

Notable Quotes

(No direct CEO/President quotes were included in the release.)