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Ontario prices second round of green bonds: $750 million at 1.95% for seven years

Proceeds from the first deal C completed in October 2014 - were to be used to help fund the Eglinton Crosstown LRT.

Thanks to its latest issue, the quantity of green bonds issued by the federal government of Ontario has risen to $1.25 billion.

Last Friday, Ontario priced its second issue. The province is placed to boost $750 million in a coupon of 1.95 per cent. (Because the bonds were issued at a slight discount to par, the yield becomes a tad higher at 1.982 per cent.) The bonds have a term of seven years, meaning that they’ll mature on Jan. 27, 2023.

So far there is no word around the specific use of proceeds other than that they will be used for eligible projects. Inside a filing using the SEC, the province asserted eligible projects “means all projects funded through the Province which have environmental benefits, exclusive of fossil fuel and nuclear energy projects, as based on the Province of Ontario.”

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