IGM Financial Inc. Announces $400 Million Offering of Debentures

IGM Financial Inc. Announces $400 Million Offering of Debentures

/NOT FOR DISTRIBUTION TO U.S. NEWS WIRE SERVICES OR DISSEMINATION IN THE UNITED STATES/

WINNIPEG, MB, May 26, 2026 /CNW/ - IGM Financial Inc. (TSX:IGM) ("IGM") announced today that it has priced the issuance of $400 million principal amount of debentures by way of private placement under applicable Canadian securities laws. The debentures are being offered on a best-efforts basis through a group of agents co-led by BMO Capital Markets, CIBC Capital Markets and Scotiabank.

The debentures are being offered in two series:

• $200 million principal amount of the debentures will be dated June 2, 2026  and will mature on June 2, 2036. These debentures will bear interest at a rate of 4.407% per annum payable semi-annually in arrears in equal installments on June 2 and December 2 of each year, beginning on December 2, 2026.
• $200 million principal amount of the debentures will be dated June 2, 2026 and will mature on June 2, 2056. These debentures will bear interest at a rate of 5.002% per annum payable semi-annually in arrears in equal installments on June 2 and December 2 of each year, beginning on December 2, 2026.

The offering of the debentures is expected to close on or about June 2, 2026, subject to certain customary conditions. The net proceeds will be used by IGM to fund the intended redemption of all of its outstanding $400 million aggregate principal amount of 3.44% debentures due January 26, 2027 (the "2027 Debentures"). Following closing of the offering, IGM intends to issue a notice to redeem the 2027 Debentures on or about July 2, 2026. The 2027 Debentures will be redeemed for consideration determined in accordance with their terms.

The debentures offered have not been and will not be registered under the Securities Act of 1933 of the United States of America, as amended (the "U.S. Securities Act") or any state securities laws. These securities may not be offered, sold or delivered in the United States or to or for the benefit of U.S. Persons (as defined in Regulation S under the U.S. Securities Act) and this News Release does not constitute an offer to sell or a solicitation of an offer to buy the debentures within the United States.

FORWARD-LOOKING STATEMENTS
Certain statements in this Release, other than statements of historical fact, are forward-looking statements based on certain assumptions and reflect IGM's current expectations. Forward-looking statements are provided to assist the reader in understanding IGM's financial position and results of operations as at and for the periods ended on certain dates and to present information about management's current expectations and plans relating to the future. Readers are cautioned that such statements may not be appropriate for other purposes. These statements may include, without limitation, statements regarding the operations, business, financial condition, expected financial results, performance, prospects, opportunities, priorities, targets, goals, ongoing objectives, strategies and outlook of IGM, the expected closing date of the offering, the intended use of the net proceeds of the offering, the timing for the issuance of the notice to redeem the 2027 Debentures, the redemption date for the 2027 Debentures, as well as the outlook for North American and international economies, for the current fiscal year and subsequent periods. Forward-looking statements include statements that are predictive in nature, depend upon or refer to future events or conditions, or include words such as "expects", "anticipates", "plans", "believes", "estimates", "seeks", "intends", "targets", "projects", "forecasts" or negative versions thereof and other similar expressions, or future or conditional verbs such as "may", "will", "should", "would" and "could".

This information is based upon certain material factors or assumptions that were applied in drawing a conclusion or making a forecast or projection as reflected in the forward-looking statements, including the perception of historical trends, current conditions and expected future developments, as well as other factors that are believed to be appropriate in the circumstances. While IGM considers these assumptions to be reasonable based on information currently available to management, they may prove to be incorrect.

By its nature, this information is subject to inherent risks and uncertainties that may be general or specific and which give rise to the possibility that expectations, forecasts, predictions, projections or conclusions will not prove to be accurate, that assumptions may not be correct and that objectives, including environmental and social, strategic goals and priorities will not be achieved.

A variety of material factors, many of which are beyond IGM's and its subsidiaries' and strategic investments' control, affect the operations, performance and results of IGM and its subsidiaries and strategic investments, and their businesses, and could cause actual results to differ materially from current expectations of estimated or anticipated events or results. These factors include, but are not limited to: the impact or unanticipated impact of general economic, political and market factors in North America and internationally, interest and foreign exchange rates, global equity and capital markets, management of market liquidity and funding risks, changes in accounting policies and methods used to report financial condition (including uncertainties associated with critical accounting assumptions and estimates), the effect of applying future accounting changes, operational and reputational risks, environmental and social risks, business competition, technological change including artificial intelligence, changes in government regulations and legislation, changes in tax laws, the impact of trade relations, unexpected judicial or regulatory proceedings, catastrophic events, outbreaks of disease or pandemics (such as COVID-19), IGM's ability to complete strategic transactions, integrate acquisitions and implement other growth strategies, the offering not being completed as expected or at all, including failure of any condition to the offering, and IGM's and its subsidiaries' and strategic investments' success in anticipating and managing the foregoing factors.

The reader is cautioned that the foregoing list is not exhaustive of the factors that may affect any of IGM's forward-looking statements. The reader is also cautioned to consider these and other factors, uncertainties and potential events carefully and not place undue reliance on forward-looking statements. 

Other than as specifically required by applicable Canadian law, IGM undertakes no obligation to update any forward-looking statements to reflect events or circumstances after the date on which such statements are made, or to reflect the occurrence of unanticipated events, whether as a result of new information, future events or results, or otherwise.

Additional information about the risks and uncertainties of IGM's business and material factors or assumptions on which information contained in forward-looking statements is based is provided in its disclosure materials filed with the securities regulatory authorities in Canada, available at www.sedarplus.ca.

ABOUT IGM FINANCIAL INC.
IGM Financial Inc. ("IGM", TSX: IGM) is a leading Canadian diversified wealth and asset management organization with approximately $326 billion in total assets under management and advisement as of April 30, 2026. The company is committed to bettering the lives of Canadians by better planning and managing their money. To achieve this, IGM provides a broad range of financial planning and investment management services to help approximately two million Canadians meet their financial goals. IGM's activities are carried out principally through IG Wealth Management and Mackenzie Investments and are complimented by strategic positions in wealth managers Rockefeller Capital Management and Wealthsimple and asset managers ChinaAMC and Northleaf Capital. These strengthen IGM's capabilities, reach and diversification. IGM is a member of the Power Corporation group of companies. For more information, visit igmfinancial.com

SOURCE IGM Financial Inc.