Category: Uncategorized

For Immediate Release: January 7, 2025

Westbank First Nation, British Columbia – Westbank First Nation, British Columbia – First Nations Finance Authority (FNFA) has issued its 12^th debenture, raising $650 million for First Nation governments in Canada. This is FNFA’s third debenture issued in one year, attesting to the growth of our members’ commitment to complete critical projects by accessing capital and participating in economic reconciliation opportunities across Canada.

“The visionary leadership demonstrated by FNFA’s members is a reflection of our shared priority to undertake projects that increase quality of life for our citizens,” said Chief Warren Tabobondung, Wasauksing First Nation, ON and FNFA Board Chair. Community projects support environmental, social and governance focused opportunities and align with the United Nations’ Sustainable Development Goals. “The FNFA model is proven – and is being recognized as an important tool in Canada for Nations to build prosperity for generations to come.”

FNFA operates on a pooled-borrowing model where all members receive the same loan rates and terms. FNFA secured a rate of 4.30 per cent for the members’ loans financed through this issuance which is 1.15 per cent below bank prime rate of 5.45 per cent. Loans are fully supported by the members’ own source revenues. Most loans are originally funded by FNFA’s Interim Financing Program (floating rate loans) and then transition into a debenture which fixes the interest rates to protect members’ budgets – a one-of-its-kind model in the world.

FNFA’s loan portfolio now exceeds $3 billion in financing for its members, has created an estimated 32,000 job opportunities, and a national economic output of $6.5 billion. There are 634 First Nations in Canada, 372 of them are scheduled to our Act (the First Nations Fiscal Management Act). Currently, 183 are members of FNFA allowing them consistent and predictable loan access.

“FNFA remains committed to its mission of empowering First Nations through financial self-sufficiency to build their futures on their own terms,” said FNFA President and CEO, Ernie Daniels. “By providing financing at significantly lower rates than commercial banks, saved dollars can be reallocated for other essential services while ensuring the Nations’ increased economic success.”

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FNFA is a non-profit organization that provides financing and access to long-term loans with preferable interest rates, investment and advisory services to First Nation governments that voluntarily schedule to the First Nations Fiscal Management Act. FNFA does not rely on federal government funding and is self-sufficient.

Media Contact:

Jennifer David, FNFA

Director of Communications and Marketing

Email: jdavid@fnfa.ca

For Immediate Release: November 28, 2024

Westbank First Nation, British Columbia – Due to a growing demand for financing from First Nation Finance Authority (FNFA) members, FNFA has increased its commercial paper program to $900 million dollars to accommodate member needs.

Originally launched in September 2021 at $400 million dollars authorized, the program raises capital for FNFA’s interim financing loan program, through the issuance of commercial paper in the Canadian money market. The interim financing loan program is utilized to build the loan portfolio towards the next debenture and for projects in the construction phase.

“As we build toward our next debenture, this increase ensures that affordable financing is available to our members on demand,” said Ernie Daniels, President & CEO of FNFA. “We see more nations coming to FNFA for financing and our members participating in larger projects. With this growth, we want to ensure we have the capital available to support nations’ economic success.”

FNFA has issued 11 debentures since 2014 and entered the short-term market in 2021 to support its loan portfolios to First Nation governments. The loan portfolio to date is $2.8 billion dollars across Canada and FNFA remains committed to its mission of empowering First Nations through financial independence to build their futures on their own terms.

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FNFA is a non-profit organization that provides financing, investment, and advisory services to First Nation governments that voluntarily schedule to the First Nations Fiscal Management Act (Act). FNFA received Royal Assent under the Act in 2005 and provides First Nation governments with investment options, capital planning advice, and access to long-term loans with preferable interest rates.

Media Contact:
Jennifer David, FNFA
Director of Communications and Marketing
Email : jdavid@fnfa.ca

For Immediate Release: September 12, 2024

Westbank First Nation, British Columbia – The First Nations Finance Authority (FNFA) is pleased to announce that S&P Global Ratings has upgraded FNFA’s long-term issuer credit and issue-level ratings to ‘AA-’ from ‘A+’. This significant achievement underscores FNFA’s growing strength and importance as a leading public sector lender to First Nation communities across Canada.

The upgrade reflects FNFA’s continued success in building a robust and independent operational track record, cementing its position as the premier lender for infrastructure, economic, and social development projects in First Nation communities. With an increasing number of First Nation borrowers and steady growth in lending, FNFA’s market position has never been stronger.

The outlook is stable, with S&P Global Ratings noting FNFA’s solid risk management practices and the strong support mechanisms in place for its lending portfolio. The rating agency also highlighted FNFA’s expanding pool of borrowers, which is expected to grow further following legislative amendments to the First Nations Fiscal Management Act, anticipated later this year.

“This rating upgrade is a testament to the hard work and dedication of our team and the trust that First Nation communities place in FNFA,” said Ernie Daniels, President & CEO of FNFA. “It reinforces our commitment to providing First Nations with the financial tools they need to achieve economic self- sufficiency and build strong, sustainable communities.”

FNFA remains committed to its mission of empowering First Nations through financial independence and is confident that this upgrade will further enhance its ability to serve its member communities effectively.

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FNFA is a non-profit organization that provides financing, investment, and advisory services to First Nation governments that voluntarily schedule to the First Nations Fiscal Management Act (Act). FNFA received Royal Assent under the Act in 2005.

Media Contact:
Jennifer David, FNFA
Director of Communications and Marketing
Email : jdavid@fnfa.ca

For Immediate Release: June 13, 2024

Westbank, British Columbia First Nations Finance Authority’s (FNFA) loan portfolio now exceeds $2.2 billion in loans to its members with the issuance of its 11th debenture that has provided 30 First Nations across Canada access to $452 million to meet community priorities.

“Surpassing the $2.2 billion milestone with our 11th debenture issuance demonstrates then strength of the FNFA model,” said FNFA President and CEO, Ernie Daniels. “This achievement allows our borrowing members to invest in critical priorities like essential infrastructure projects, renewable energy solutions, economic and vital community services at significantly lower rates than available elsewhere. By offering a competitive relending rate of 4.47%, which is 2.48% below bank prime rate of 6.95%, our members can invest in their priorities, taking advantage of substantial cost savings. When projects are in the millions, savings of 1-2% can add up quite quickly. This commitment to fiscal responsibility empowers our First Nation communities to build a more prosperous future and focus on wealth creation.”

Since its inception, FNFA has successfully launched short and long-term loans programs, it has received multiple rating upgrades, grown exponentially in staff size, is self-sufficient, no longer relies on any external funding, and recently has received an index assignment change from the Municipal Index to the Federal Agency Index within the FTSE Canada Bond Indices.

The latest debenture, which legally takes effect on June 11, 2024, supports environmental, social and governance (ESG)-focused opportunities and aligns with the United Nations’ Sustainable Development Goals (SDG). Since the first debenture was issued in 2014, the projects financed by FNFA have resulted in the creation of nearly 22,000 jobs and an improved quality of life in many communities.

This includes projects like:

• Improved Food Security: A Manitoba community is constructing a new grocery store and service center, eliminating a long 50-kilometer trek for residents to access essential goods.
• Sustainable Growth: An Ontario First Nation is increasing its ownership in a wind farm project, promoting environmental responsibility while generating revenue for future community investments.
• Enhanced Infrastructure: Another Ontario community is upgrading its road system, improving infrastructure and overall community safety.

This 11th debenture issuance marks a significant milestone for the First Nations Finance Authority. Issued in 2014, the FNFA’s inaugural debenture reaches its maturity term this year. The successful reissuance of this debt instrument demonstrates strong capital market acceptance of FNFA’s model for raising financing in support of its members. This achievement signifies the ongoing viability and attractiveness of the debenture program as a tool for First Nations communities to secure long-term financing for their community projects.

“It is evident that FNFA is seen as a trusted financial source for First Nations communities across Canada,” said Chief Warren Tabobondung, Wasauksing First Nation, ON and FNFA Board Chair. “I am proud that there are now 364 First Nations scheduled to the First Nations Fiscal Management Act —more than 50 per cent of all First Nations communities in Canada — 173 of which have completed the process to become a borrowing member.”

For more information about FNFA’s 11th debenture milestone, please visit fnfa.ca/en/about/news-media/ or call 250-768-5253.

About the First Nations Finance Authority (FNFA)
FNFA is a non-profit organization that provides financing, investment, and advisory services to First Nation governments that voluntarily schedule to the First Nations Fiscal Management Act (Act). FNFA received Royal Assent under the Act in 2005.

For media inquiries, contact:
Brianna Wilson, FNFA
Social Media and Marketing Coordinator
250-768-5253
bwilson@fnfa.ca

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MEDIA ADVISORY

A NEW COMMUNITY CENTRE IS A GATHERING PLACE TO REVIVE CULTURE, AND
THE FULFILMENT OF A DREAM. AND IT’S FINANCED BY AN INNOVATIVE FIRST
NATIONS LENDER

SALT RIVER FIRST NATION, NWT (April 1, 2019) — Today the Salt River First Nation announced
the Grand Opening of its new Community Centre, a $17.5 million project financed by the First Nations
Financial Authority (FNFA), a major First Nations lender, in partnership with National Bank of Canada.
The Grand Opening takes place in Salt River on Sunday April 7 at 6:30 pm.
Chief Frieda Martselos describes the new Centre as “a great economic opportunity for future
generations and a gathering place for our community to revive the language and culture.” Years in the
planning, the project fulfils a community dream and stands as a testament to Salt River First Nation’s
vision and determination. Chief Martselos adds that “it would not have happened without financing
from FNFA.”

Salt River First Nation is located at the Northern Alberta border in the spectacular South Slave region
of the Northwest Territories. The community neighbours Fort Smith, headquarters of the Wood Buffalo
National Park, a home to endangered species and the largest national park in Canada. The
Community Centre’s unique and modern design reflects the culture and surrounding territory of the
Salt River First Nation.

In partnership with National Bank of Canada, the FNFA has created a financing solution that cuts
borrowing costs for First Nations communities. Over the last four years, it has lent $500 million to close
infrastructure gaps and generate employment opportunities. The FNFA has helped finance projects
across Canada, including wellness centres, community housing, and biomass energy, empowering
First Nations to control their own economic development.

Last September, FNFA announced the opening of a $24 million state-of-the-art high school in Fisher
River First Nation, 200 kilometres north of Winnipeg. FNFA enjoys an “A2 Stable,” investment- grade
rating from Moody’s Investors Service and is the recipient of the Governor General’s Innovation Award
for its “exceptional, transformative, and positive impact on quality of life.”

“Our loan program is over half a billion dollars and rapidly growing,” said FNFA CEO, Ernie Daniels.
“If you’re looking for opportunities to borrow or invest, we’d love to hear from you.”
For more information, please visit the FNFA website at www.fnfa.ca.

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Media contact: Ernie R. Daniels, President and CEO, First Nations Finance Authority
Phone: (250) 768.5253 ext. 112, email: edaniels@fnfa.ca

Enabling legislation: The FNFA came into effect in 2006 following passage of the federal First Nations Fiscal Management Act, 2005 (FNFMA).