{"id":9922,"date":"2016-06-01T20:33:00","date_gmt":"2016-06-01T20:33:00","guid":{"rendered":"https:\/\/fnfa.dev5.oracastdev.com\/?p=9922"},"modified":"2016-06-01T20:33:00","modified_gmt":"2016-06-01T20:33:00","slug":"first-nations-finance-authority-bond-3-press-release","status":"publish","type":"post","link":"https:\/\/fnfafinal.dev5.oracastdev.com\/en\/first-nations-finance-authority-bond-3-press-release\/","title":{"rendered":"First Nations Finance Authority Bond 3 Press Release"},"content":{"rendered":"\n

For Immediate Release<\/em><\/p>\n\n\n\n


First Nations Finance Authority Issues its Largest Bond to date<\/strong><\/p>\n\n\n\n


Westbank, British Columbia (June 1, 2016) \u2013 The First Nations Finance Authority has issued its largest to
date bond at $110 Million. The bond was purchased by 22 institutional investors in the global financial
markets. It is FNFA\u2019s 3 rd such debenture since 2014, bringing the total debt issued by FNFA up to $250
million, and will improve housing, infrastructure and economies on 29 First Nations across Canada. The
bonds are backed by First Nations \u201cOwn Source Revenues\u201d which are stable, predictable revenues self generated by the First Nation government through revenue sharing agreements with municipal, provincial and federal governments, as well as lease contracts, royalties, rents, and businesses revenues.<\/p>\n\n\n\n


\u201cThe FNFA has received widespread acceptance from both the Capital Markets and First Nations,\u201d
confirms Ernie Daniels, President and CEO. \u201cWe now have a larger membership, greater
geographical dispersion, and are financing projects across sectors such as public infrastructure,
housing, green energy and other economic development initiatives. Our process is working and our
track record proves it.\u201d<\/em><\/strong><\/p>\n\n\n\n


197 First Nations across Canada have opted into the First Nations Fiscal Management Act, signifying
their desire to join the FNFA. To date, 52 First Nations from 7 different provinces have completed
FNFA\u2019s steps-to-membership; the balance are working to complete these steps. Since FNFA\u2019s first loan
was issued in 2012 there has never been a late payment or a default on payment.<\/p>\n\n\n\n


\u201cThe FNFA has experienced tremendous growth since our inaugural 2014 debenture,\u201d states FNFA
Deputy Chair Chief Joseph Bevan of Kitselas First Nation. \u201cWe have more First Nations
participating, more projects being financed, and more investors buying our bonds.\u201d<\/strong><\/em><\/p>\n\n\n\n


The FNFA is a not-for-profit First Nation institution established pursuant to the federal First
Nations Fiscal Management Act, that provides any qualifying First Nation from across Canada
with access to the capital markets. The First Nations govern the FNFA, as members elect from
amongst themselves a Board of Directors.<\/p>\n\n\n\n


FNFA facilitates loans to Borrowing Members from the proceeds of bond issuances. These loans
can have repayment terms up to 30 years and offer fixed-rate options to assist the member First
Nation\u2019s budgeting needs. In order to fund member\u2019s borrowing requirements prior to an
expected bond issuance date, the FNFA also offers short-term loans at below Bank Prime. Shortterm loans are rolled over into each new bond. As more First Nations qualify to become
Borrowing Members, the FNFA will continue to grow and diversify, looking to strengthen its
credit rating and consequently the financial benefits to its members.

\u201cThe FNFA weaves together the needs of First Nations and Capital Markets,\u201d explains Daniels.
\u201cFirst Nations need improvements to infrastructure, housing and economies and the Capital
Markets require certainty of repayment. The FNFA is bridging the gap and allowing both sides to
meet in the middle.\u201d<\/em><\/strong><\/p>\n\n\n\n


The Board of Directors, membership and staff of the FNFA looks forward to continuing its work with
First Nations governments from coast to coast to coast.<\/p>\n\n\n\n


For More Info:
Ernie Daniels
President and CEO
First Nations Finance Authority
PH: (250) 768-5253
Fax: (250) 768-5258
info@fnfa.ca<\/p>\n","protected":false},"excerpt":{"rendered":"

First Nations Finance Authority Issues its Largest Bond to date<\/p>\n","protected":false},"author":2,"featured_media":9923,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"episode_type":"","audio_file":"","cover_image":"","cover_image_id":"","duration":"","filesize":"","date_recorded":"","explicit":"","block":"","itunes_episode_number":"","itunes_title":"","itunes_season_number":"","itunes_episode_type":"","filesize_raw":"","footnotes":""},"categories":[26],"tags":[27,28],"class_list":["post-9922","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-archives","tag-bond","tag-fnfa"],"acf":{"title_replace":null,"banner_image":null},"yoast_head":"\nFirst Nations Finance Authority Bond 3 Press Release - FNFA<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/fnfafinal.dev5.oracastdev.com\/en\/first-nations-finance-authority-bond-3-press-release\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"First Nations Finance Authority Bond 3 Press Release - 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