OMERS’ holding company issues inaugural multi-tranche bond, expanding its presence in Canadian debt markets
BPC Generation Infrastructure Trust (BGIT), the holding company for OMERS’ investment in Bruce Power, completed its first senior unsecured bond issuance.
The total issuance is $1.5bn, distributed across 5, 7, and 10-year tranches of notes.
This transaction is the largest domestic holding company bond issuance recorded in the Canadian power and utilities sector.
Michael Hill, executive vice president and global head of OMERS Infrastructure, said this transaction marks a milestone in Canadian infrastructure financing.
He noted the scale, pricing, and investor engagement in the process.
Hill stated that the process has resulted in a scalable platform for accessing and collaborating with Canadian debt capital markets. He also acknowledged Bruce Power’s leadership team for their support.
OMERS has held a direct investment in Bruce Power since 2003.
Bruce Power operates in Ontario and produces approximately 6,550 megawatts of peak clean energy. This output represents about 30 percent of Ontario’s electricity.
Over more than twenty years, OMERS and the management team have worked together to deliver the company’s vision and support its growth.
