Ontario Power Generation completes C$450 million green bond issuance
On June 22, 2018, Ontario Power Generation Inc. (OPG) completed its offering of C$450,000,000 principal amount of 3.838% "green bond" medium term notes due June 22, 2048 (Series 2). This was a first of its kind financing for the Canadian energy sector.
The offering was made through a syndicate of dealers led by BMO Capital Markets and TD Securities and including Goldman Sachs Canada Inc., CIBC World Markets Inc., National Bank Financial Inc., RBC Dominion Securities Inc., Scotia Capital Inc., HSBC Securities (Canada) Inc., Desjardins Securities Inc. and Laurentian Bank Securities Inc.
OPG has established a green bond framework that allows for the use of proceeds to finance projects that offer tangible environmental benefits.
OPG is Ontario's largest and lowest cost, clean power generator, producing almost half of the electricity that Ontario homes, schools, hospitals and businesses rely on each day.
Further information can be found on Canada Newswire's website.