TORONTO, March 19, 2021 /CNW/ - First National
Financial Corporation ("First National") (TSX: FN) (TSX: FN.PR.A)
(TSX: FN.PR.B) today announced that 399,700 of its outstanding
cumulative 5-year rate reset Class A Preference Shares, Series 1
("Series 1 Preference Shares") were tendered for conversion, on a
one-for-one basis, into cumulative floating rate Class A Preference
Shares, Series 2 ("Series 2 Preference Shares"). The Company also
announced that 497,388 of its outstanding Series 2 Preference
Shares were tendered for conversion, on a one-for-one basis, into
Series 1 Preference Shares.
After both conversions, effective April
1, 2021, the Company will have 2,984,835 Series 1 Preference
Shares and 1,015,165 Series 2 Preference Shares outstanding and
issued. The Series 1 Preference Shares will continue to be listed
on the Toronto Stock Exchange ("TSX") under the symbol FN.PR.A and
the Series 2 Preference Shares will continue to be listed on the
TSX under the symbol FN.PR.B.
About First National Financial Corporation
First National Financial Corporation (TSX: FN, TSX: FN.PR.A,
TSX:FN.PR.B) is the parent company of First National Financial
LP, a Canadian-based originator, underwriter and servicer of
predominantly prime residential (single-family and multi-unit) and
commercial mortgages. With more than $118
billion in mortgages under administration, First National is
Canada's largest non-bank
originator and underwriter of mortgages and is among the top three
in market share in the mortgage broker distribution channel.
For more information, please visit www.firstnational.ca.
SOURCE First National Financial Corporation