Shearman And Sterling

News November 16, 2022

Ontario Teachers’ C$1 Billion Senior Notes Offering

Shearman & Sterling advised BMO Capital Markets, CIBC Capital Markets, National Bank of Canada Financial Markets, RBC Capital Markets and TD Securities, as joint book-running managers, and Desjardins Capital Markets, HSBC and Scotiabank, as co-managers, in connection with a Rule 144A/Regulation S offering by Ontario Teachers’ Finance Trust (OTFT) of C$1 billion aggregate principal amount of 4.450% Senior Notes due 2032. The notes were issued under OTFT's global debt program, and are guaranteed by OTFT’s parent, Ontario Teachers’ Pension Plan Board.

The notes were listed on the Official List of the Irish Stock Exchange (now trading as Euronext Dublin) and admitted to trading on its Global Exchange Market (GEM).

Ontario Teachers Pension Plan Board is a global investor with net assets of C$242.5 billion as at June 30, 2022. It invests in more than 50 countries in a broad array of assets including public and private equities, fixed income, credit, commodities, natural resources, infrastructure, real estate and venture growth to deliver retirement income for 333,000 working members and pensioners.

The Team