Shearman & Sterling LLP

11/24/2021 | Press release | Archived content

Ontario Teachers’ Finance Trust’s €500 Million Green Bond Offering

NewsNovember 24, 2021

Ontario Teachers' Finance Trust's €500 Million Green Bond Offering

Shearman & Sterling advised the agents, led by BNP PARIBAS, HSBC, J.P. Morgan, and TD Securities, as joint book-running managers, in connection with Ontario Teachers' Finance Trust's (OTFT) Regulation S offering of €500 million aggregate principal amount of 0.950% senior notes due 2051. The notes were issued under OTFT's global debt program, and are guaranteed by OTFT's parent, Ontario Teachers' Pension Plan Board (OTPPB).

OTPPB intends to allocate an amount equal to the net proceeds from the sale of the notes to the financing or refinancing (in whole or in part) of Eligible Green Assets.

The notes were listed on the Official List of the Irish Stock Exchange (now trading as Euronext Dublin) and admitted to trading on its Global Exchange Market (GEM).

OTPPB is a globally active investor with holdings in more than 50 countries across diversified sectors and asset classes. It administers the assets of the Ontario Teachers' Pension Plan and manages the assets for the benefit of approximately 331,000 active and retired teachers in Ontario. The Plan had net assets of C$227.7 billion as of June 30, 2021.

The Shearman & Sterling team below included associate Josh Lokko (Toronto-Capital Markets).

The Team

Practices

Regional Experience