Shearman And Sterling

News May 06, 2020

Ontario Teachers' €1.5 Billion Senior Notes Offering

Shearman & Sterling advised Barclays Bank PLC, BNP Paribas, J.P. Morgan Securities plc and Merrill Lynch International, as joint book-running managers, and Crédit Agricole Corporate and Investment Bank, Goldman Sachs International and HSBC France, as co-managers, in connection with Ontario Teachers’ Finance Trust’s (OTFT) Regulation S private placement of €1.5 billion aggregate principal amount of 0.500 percent senior notes due 2025. The notes are guaranteed by OTFT’s parent, Ontario Teachers’ Pension Plan Board.

Subject to final approval, the notes will be listed on the Official List of the Irish Stock Exchange (now trading as Euronext Dublin) and admitted to trading on its Global Exchange Market.

Ontario Teachers’ Pension Plan Board is a globally active investor with holdings in more than 50 countries across diversified sectors and asset classes. It administers the assets of the Ontario Teachers’ Pension Plan and manages the assets for the benefit of approximately 329,000 active and retired teachers in Ontario. The Plan had net assets of C$207.4 billion as of January 1, 2020.

The Team