Commentary & Deal Flow

Fairstone Bank of Canada, (ticker: "FBOCAN") rated Baa2/BBB by Moody's/DBRS, has mandated RBC Capital Markets as Arranger and Sole Structuring Advisor, and BMO Capital Markets, DZ Bank, LBBW, Natixis and RBC Capital Markets as Joint Active Bookrunners to arrange a series of virtual and physical fixed income meetings. A Deal Roadshow presentation (slides only) remains available.

An inaugural benchmark Covered Bond 3yr € offering may follow as early as this week, subject to market conditions.

• Expected Issue Ratings: Aa1/AA (high) (Moody's/DBRS)
• Program: CAD 1.5bn Global Legislative Covered Bond Program
• Guarantor: FBOC Covered Bond (Legislative) Guarantor Limited Partnership (a limited partnership formed under the laws of Ontario)
• Collateral: Backed by Canadian residential mortgages
• Roadshow: Concluded
• Roadshow consensus feedback: In range fair value flat/small bps inaugural premium to EQB
• Investors involved: c.50 investors involved through the marketing process
• Feedback: Please continue to reflect feedback to syndicates
• Investor marketing schedule (Logistics):
  • 28-Sep-26: London (RBCCM/Natixis)
  • 29-Sep-26: Copenhagen (RBCCM)
  • 30-Sep-26: Luxembourg (Natixis)
  • 01-Oct-26: Frankfurt (DZ Bank)
• HTT available: https://www.fairstonebank.ca/en/covered-bonds#covered-bonds-ecf78d10df-item-b8fd411094-tab

DealRoadshow Information:
https://dealroadshow.finsight.com/e/FBOC2026