TORONTO and MONTREAL, June 8, 2026 /CNW/ - Fairstone Bank of Canada ("Fairstone Bank" or the "Bank") today announced the successful closing of its $300 million three-year Notes issuance under the Canvas Cards Trust Series 2026‑1 securitization program.

The transaction represents Fairstone Bank's second asset-backed securities (ABS) issuance under its Canvas credit card platform, reinforcing the strength and scalability of its cards business and wholesale funding program. The Series 2026‑1 issuance includes $258 million of Class A Notes, $24 million of Class B Notes and $18 million of Class C Notes, mainly backed by a seasoned pool of Walmart Mastercard credit card receivables originated and serviced by Fairstone Bank.

The issuance attracted strong institutional demand, generating more than $1 billion in orders and an oversubscription of over 3.5 times. A total of 21 investors participated, including a meaningful number of new investors to the platform, contributing to a broader and more diversified investor base.

Execution outcomes improved across all tranches relative to Fairstone Bank's inaugural ABS issuance, which was completed last year, with tightening spreads and increased participation in subordinated classes, reflecting growing investor confidence in the performance and structure of Fairstone Bank's credit card receivables program.

"This outcome underscores the confidence investors have in our credit fundamentals and our ability to consistently execute in the capital markets," said Amir Gorgi, Executive Vice President and Chief Financial Officer of Fairstone Bank of Canada. "We are committed to maintaining a disciplined approach to balance sheet management while continuing to expand and diversify our funding platform in support of our long-term growth ambitions."

The issuance was conducted pursuant to an offering memorandum with BMO Capital Markets acting as structuring lead. BMO Capital Markets, CIBC Capital Markets and TD Securities served as joint bookrunners, with Desjardins Securities, Laurentian Bank Securities, National Bank Financial Markets, RBC Capital Markets and Scotiabank acting as co‑managers.

About Fairstone Bank of Canada
Fairstone Bank of Canada and its subsidiaries, including Fairstone Financial Inc. and Home Trust Company, deliver innovative, accessible and reliable financial solutions that enable Canadians to reach their financial goals. Collectively, we offer residential and commercial mortgages, consumer deposits and GICs, retail and automobile financing, credit cards and digital lending, in addition to unsecured and secured personal loans online and at more than 260 branches coast to coast. With a long-established history, we are proud to be Canada's leading alternative lending bank. Learn more at FairstoneBank.ca.

SOURCE Fairstone Financial Holdings Inc.