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Client Work

PSP Capital completes US$500 million debt financing of fixed rate notes

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Confidential Client

On November 20, 2014 , PSP Capital Inc., a wholly-owned subsidiary of the Public Sector Pension Investment Board, issued $500 million principal amount of 3.29% Notes, Series 7 due Arpil 4, 2024. The Notes are unconditionally and irrevocably guaranteed by the Public Sector Pension Investment Board as to the payment of the principal and interest, and have been assigned a rating of AAA by DBRS and AAA by Standard & Poors’. A syndicate of dealers co-led by TD Securities Inc., RBC Dominion Securities Inc., BMO Nesbitt Burns Inc. and including CIBC World Markets Inc., Desjardins Securities Inc., Scotia Capital Inc., Casgrain & Company Limited, National Bank Financial Inc., HSBC Securities (Canada) Inc. and Laurentian Bank Securities Inc., acted as agents with respect to the offering, which was completed on a private placement basis. Jean-Pierre Chamberland and Sébastien Bellefleur of Fasken Martineau acted as legal counsel to the syndicate of dealers.



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