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OMERS Finance Trust successfully completes offering of Sustainable USD term notes

April 13, 2022

OMERS Finance Trust (OFT) has priced USD 600 million of 10 year and USD 500 million of 30 year Sustainable Bonds, USD Reg S / 144a notes. The notes are guaranteed by OMERS Administration Corporation (AC), rated Aa1/AA+/AAA/AAA (Moody's / S&P / Fitch / DBRS). This marks OFT’s fourth and fifth USD offerings as an SSA issuer and an inaugural offering under OMERS’ Sustainable Bond Framework.

The 10 year USD note priced at a yield of 3.532%, which is equivalent to a spread of 75 bps over the equivalent US Treasury, and matures on April 19, 2032. The 30 year USD note priced at a yield of 4.090%, which is equivalent to a spread of 125 bps over the equivalent US Treasury, and matures on April 19, 2052.

HSBC, RBC Capital Markets, Scotiabank and TD Securities acted as joint lead managers on the transaction.


Stats broken out by tenors

By Geography:

10 Year

30 Year

Americas

50%

86%

Europe

50%

14%

By Investor Type:

10 Year

30 Year

Asset Managers & Corporate

55%

36%

Pension, Insurance & Other

20%

59%

Private Banks

17%

5%

Central Banks & Official Institutions

8%