News Briefs
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News Briefs

  • H2O Innovation subsidiary lands new deals in US +

    H2O Innovation Inc.’s operation and maintenance (O&M) services subsidiary Utility Partners LLC (UP) has renewed two contracts and extended the Read More
  • EDC offers new green bond +

    Export Development Canada’s (EDC) latest green bond has been priced. Set at $500 million with a 1.8 fixed rate, the Read More
  • Capital Power moving ahead with New Frontier Wind +

    After Capital Power Corp. inked an agreement to sell 87% of the electricity generated from the yet to be constructed Read More
  • General Fusion takes new step towards reactor design +

    Vancouver’s General Fusion has hired two industry veterans to help lead the company through the development of a proof-of-concept fusion Read More
  • Federal, Ontario governments take big step in reducing diesel reliance in FN communities +

    The $60 million in federal funding to connect the Pikangikum First Nation to Ontario’s electricity grid is a major step Read More
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Stock Market

Export Development Canada’s (EDC) latest green bond has been priced. Set at $500 million with a 1.8 fixed rate, the bond will become due on September 1, 2022. Expected to settle on September 5, the lead underwriters were B of A Merrill Lynch , RBC Capital Markets, TD Securities Inc.

 

This is EDC's first Green bond priced in Canadian dollars and its fourth in recent years, with previous bonds of $US500 million in May 2017, $US300 million in December 2015 and $US300 million in January 2014, each receiving strong support from the green bond investor community.

"Climate change is a priority for EDC and being the first Canadian Crown corporation to issue a green bond in (Canadian dollars) demonstrates the increasing demand for sustainable investment products within the Canadian market," said Ken Kember, senior VP of finance and CFO at EDC. "EDC wants to bring our expertise and ability to issue bonds into the Canadian market as a way to attract domestic and international investors to the table and stimulate growth."

The proceeds of this green bond offering will go towards EDC's portfolio of green assets, including loan assets made to companies that are active in fields of preservation, protection or remediation of air, water, and/or soil, creation of renewable energy and mitigation of climate change.