BCI announces closing of C$1.25 billion inaugural bond issuance

BCI announced the closing of its inaugural C$1.25 billion senior unsecured bond issuance on October 27, 2023. The notes settled on October 26, 2023, carry a 4.90% coupon and mature on June 2, 2033. The issuance received the highest credit ratings from Moody's, S&P Global Ratings and DBRS, and generated more than C$1.9 billion in orders from over 50 institutional investors. The proceeds were intended for general investment purposes and to support diversified portfolio financing and liquidity. RBC Capital Markets and TD Securities co-led the placement.