Shearman And Sterling

News October 19, 2020

Ontario Teachers’ C$1.25 Billion Senior Notes Offering

Shearman & Sterling advised BMO Nesbitt Burns Inc., RBC Dominion Securities Inc., CIBC World Markets Inc., Scotia Capital Inc. and TD Securities Inc., as joint book-running managers, and Desjardins Securities Inc. and National Bank Financial Inc., as co-managers, in connection with Ontario Teachers’ Finance Trust’s U.S. Rule 144A/Regulation S private placement of C$1.25 billion aggregate principal amount of 1.10 percent senior notes due 2027. 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$204.7 billion as of June 30, 2020.

The Team