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).


Jack A. Silverson Julie A. Colden Courtney Ashton David Randell Paul W. Litner Michael D. Innes Gregory J. Winfield Rosalind Hunter Shelley W. Obal Louise J. A. Greig Eric Gertner Matthew Appleby