OPB Finance Trust Completes $500M Debenture Offering

OPB Finance Trust completed an offering of $350,000,000 aggregate principal amount of 3.89 per cent Series A Debentures, due 2042, and $150,000,000 aggregate principal amount of 3.8 per cent Series B Debentures, due 2062. The Series A and Series B Debentures are unconditionally guaranteed by the Ontario Pension Board (“OPB”). The offering was completed by way of private placement through a syndicate of agents led by RBC Dominion Securities Inc. and TD Securities Inc. and that included CIBC World Markets Inc.

OPB Finance Trust and OPB were represented by Osler, Hoskin & Harcourt LLP, with a team that included Michael Innes, Rosalind Hunter, Courtney Ashton and Michael Mandarello (corporate); Paul Litner and Louise Greig (pensions); Jack Silverson and Julie Colden (tax) and Shelley Obal (research).

McCarthy Tétrault LLP represented the underwriting syndicate, with a team consisting of Barry Ryan, David Randell and Matthew Appleby (corporate); Greg Winfield (pensions); Gabrielle Richards (tax) and Eric Gertner (research).