OMERS Finance Trust successfully completes inaugural offering of USD term notes
April 25, 2019
OMERS Finance Trust (OFT) has priced its USD 1.25 billion, five-year USD 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 inaugural offering as an SSA issuer.
BofA Merrill Lynch, HSBC, RBC Capital Markets and TD Securities acted as joint lead managers on the transaction. The five-year USD note priced at a yield of 2.619%, which is equivalent to a spread of 29.6 bps over the equivalent US Treasury. The notes mature on May 2, 2024.
Approximate Investor Distribution of the USD 1.25 billion five-year notes:
By Geography:
By Investor Type:
Americas
75.5%
Bank Treasuries & Private Banks
41.0%
Asia
-%
Central Banks & Official Institutions
37.6%
Europe, Middle East, Africa
24.5%
Asset Managers
20.4%
Other
1.0%