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Ottawa Citizen
14-05-2025
- Business
- Ottawa Citizen
Fiera Capital Corporation announces $60 million bought deal offering of 7.75% Senior Subordinated Unsecured Debentures
Article content MONTREAL, May 14, 2025 (GLOBE NEWSWIRE) — Fiera Capital Corporation ('Fiera Capital' or the 'Company') (TSX: FSZ) is pleased to announce that it has entered into an agreement with Scotiabank, CIBC Capital Markets, Desjardins Capital Markets and RBC Capital Markets, as joint bookrunners, on behalf of a syndicate of underwriters which also included National Bank Financial Inc., BMO Capital Markets, TD Securities Inc., Canaccord Genuity Corp., iA Private Wealth Inc. and Raymond James Ltd. (collectively, the 'Underwriters'), whereby the Underwriters have agreed to purchase $60 million aggregate principal amount of senior subordinated unsecured debentures due June 30, 2030 (the 'Debentures') at a price of $1,000 per Debenture (the 'Offering'). Fiera Capital has also granted the Underwriters an option to purchase up to an additional $9 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 closing of the Offering. The Offering is expected to close on or about June 3, 2025. Article content Article content Article content The Debentures will bear interest at a rate of 7.75% per annum, payable semi-annually in arrears on June 30 and December 31 of each year, with the first interest payment on December 31, 2025. The December 31, 2025 interest payment will represent accrued interest from the closing of the Offering, to but excluding December 31, 2025. The Debentures will mature on June 30, 2030 (the 'Maturity Date'). Article content The Debentures will not be redeemable prior to June 30, 2028 (the 'First Call Date'), except upon the occurrence of a change of control of the Company in accordance with the terms of the indenture (the 'Indenture') governing the Debentures. On and after the First Call Date and prior to June 30, 2029, the Debentures will be redeemable in whole or in part from time to time at the Company's option at a redemption price equal to 103.875% of the principal amount of the Debentures redeemed plus accrued and unpaid interest, if any, up to but excluding the date set for redemption. On and after June 30, 2029 and prior to the Maturity Date, the Debentures will be redeemable, in whole or in part, from time to time at the Company's option at par plus accrued and unpaid interest, if any, up to but excluding the date set for redemption. The Company shall provide not more than 60 nor less than 30 days' prior notice of redemption of the Debentures. Article content Article content The Company will have the option to satisfy its obligation to repay the principal amount of the Debentures due at redemption or maturity by issuing and delivering that number of freely tradeable Class A subordinate voting shares (the 'Class A Shares') in accordance with the terms of the Indenture. Article content The Debentures will not be convertible into Class A Shares at the option of the holders at any time. Article content The net proceeds of the Offering will be used to fund the redemption of the Company's 8.25% Senior Subordinated Unsecured Debentures due December 31, 2026 (the '2026 Debentures') that the Company intends to effect on the first call-date, December 31, 2025, and for general corporate purposes. Pending such use, the net proceeds from the Offering will temporarily be used by the Company to reduce indebtedness under the Company's unsecured revolving credit facility. The foregoing is not a redemption notice with respect to the 2026 Debentures. Any redemption of the 2026 Debentures will be made pursuant to a notice of redemption under the indenture governing those securities.
CBS News
26-03-2025
- Business
- CBS News
IRS tax forgiveness questions to ask now
Hitting the submit button on your tax filings can result in a range of emotions, from the relief of getting things squared away to the stress of realizing you owe more than expected to the Internal Revenue Service (IRS). If you find yourself in the latter situation and are staring down a tax bill that you simply can't pay out of pocket, you may be wondering whether the IRS offers any form of tax forgiveness . The good news? They do. The bad news? While the IRS' tax forgiveness programs can help taxpayers reduce or manage their tax debt, qualifying and applying for these options is typically a complex process. Navigating the IRS' tax forgiveness programs typically requires an understanding of the eligibility criteria, repayment terms and potential alternatives — information that the average taxpayer may not know. So, to get a clear picture of where you stand and how to best navigate your tax debt , it's important to ask the right questions about the IRS tax forgiveness process. Get extra help with your tax debt today . Asking the IRS tax forgiveness questions outlined below could help you determine if relief is available for you and how you can take advantage of it. The IRS offers several programs designed to assist taxpayers who are struggling with their tax debt. The most well-known option is the Offer in Compromise (OIC) , which allows taxpayers to settle their tax debt for less than the full amount owed. Other options include installment agreements and penalty abatement. Understanding these programs can help you determine which one best fits your financial situation. Speak to a tax relief specialist about your options now . An Offer in Compromise is one of the most sought-after forms of tax relief, as it can result in paying a fraction of what you owe to the IRS to settle your tax bill, but not everyone qualifies . The IRS considers your income, expenses, asset equity and ability to pay when evaluating your application. If you're experiencing financial hardship and cannot reasonably pay your full tax debt, this may be an option. However, the application process is rigorous, and the IRS typically rejects applications that don't meet their strict criteria. If an Offer in Compromise is not an option, an installment agreement may be the next best option. The IRS allows taxpayers to pay off their debt over time through structured monthly payments. But before signing up for a payment plan, you should ask how much interest and penalties will accrue over time, whether you qualify for a short-term or long-term plan and whether an automatic bank withdrawal is required. If you are in extreme financial hardship and cannot afford to make payments at all, you may qualify for Currently Not Collectible (CNC) status . This status temporarily suspends IRS collection efforts, meaning they won't levy your bank accounts or garnish your wages. However, CNC status doesn't forgive or erase your tax debt — it simply defers it until your financial situation improves. So, you should ask how long CNC status lasts and what circumstances could trigger a reassessment. Tax penalties can quickly add up, making your overall debt even harder to manage. The IRS does offer penalty abatement (meaning that the agency will forgive your tax penalties) in certain circumstances, though, such as first-time offenses or reasonable causes (like medical emergencies and natural disasters). If you're struggling due to penalties, ask whether you qualify for relief and what documentation is required to support your request. When dealing with the complexities that come with IRS tax forgiveness programs, you may wonder if professional help is worth the cost. Tax relief specialists understand the nuances of IRS procedures and can often navigate the system more efficiently than individual taxpayers, so for many people, they may be worth the extra money. If you decide to work with a specialist, though, be sure to verify their credentials , ask about their success rate with cases similar to yours and get a clear understanding of their fee structure upfront. For simpler cases, you might handle the process yourself, but for complex situations involving substantial tax debt, professional guidance could potentially save you money. Navigating IRS tax forgiveness programs typically requires asking the right questions — and you should do so early and often. While these programs can provide significant relief, they come with complex requirements and potential drawbacks. By asking these crucial questions now, though, you can make informed decisions about your tax situation and take meaningful steps toward financial stability.
