First National Financial Prepares C$600 Million Bond Sale

Canadian mortgage lender First National Financial is preparing to sell C$600 million ($428 million) in bonds next week as it moves closer to being bought outby private equity investors, according to people with knowledge of the matter.

The debt sale is part of a borrowing program that could grow to as much as C$1.75 billion, used to fund the buyout with Birch Hill Equity Partners Management Inc. and Brookfield Asset Management, said the people, asking not to be identified as they aren’t authorized to speak publicly. The acquisition of the lender received regulatory clearance this week and is ...