OMERS Finance Trust successfully completes offering of CAD term notes

April 16, 2020
OMERS Finance Trust (OFT) has priced its CAD 1.25 billion, 7-year Reg S / 144a notes. The notes are guaranteed by OMERS Administration Corporation (OAC), rated Aa1/AA+/AAA/AAA (Moody's / S&P / Fitch / DBRS, all stable). This marks OFT’s fourth offering as an SSA issuer and its second in Canadian dollars.

RBC Capital Markets, BMO Capital Markets, CIBC Capital Markets, National Bank Financial, Scotiabank and TD Securities acted as joint bookrunners on the transaction.

The 7-year CAD notes priced at a yield of 1.565%, which is equivalent to a spread of 108 bps over the equivalent Government of Canada bond. The notes were made available for sale by way of a private placement in Canada, the United States and select international jurisdictions. They mature on April 21, 2027.
 

By Geography:

By Investor Type:

Americas

78%

Investment Counsellors

35%

Asia

17%

Pension & Insurance

27%

Europe, Middle East, Africa

5%

Government

22%

 

 

Bank Treasuries & Trusts

16%