BCI completes C$1.5 billion offering of Series 2 notes

Torys acted as counsel to BCI, in respect of the assets of the Combined Funds which it holds in trust, with a team led by Rima Ramchandani and that included Kendall Grant, Ronen Nehmad and Nicole Beausoleil (corporate/securities).

On August 22, 2024, British Columbia Investment Management Corporation (“BCI”), in respect of the assets of the Combined Funds which it holds in trust, completed a C$1.5 billion offering of 3.40% senior unsecured notes, Series 2, due June 2, 2030, by way of private placement.

The notes were sold by a syndicate of agents co-led by BMO Nesbitt Burns Inc., CIBC World Markets Inc., RBC Dominion Securities Inc. and TD Securities Inc. and included Desjardins Securities Inc., Laurentian Bank Securities Inc. and Scotia Capital Inc.

BCI is amongst the largest institutional investors in Canada with C$250.4 billion in gross assets under management, as of March 31, 2024. Based in Victoria, British Columbia, it manages a portfolio of diversified public and private market investments on behalf of 31 British Columbia public sector clients.