The bonds are the third issued under Ontario’s green bond program that will help finance transit and other environmentally friendly infrastructure projects across Ontario. Application has been made to the Luxembourg Stock Exchange (LSE) for the bonds to be admitted to trading on the Euro MTF Market of the LSE.

Ontario is the largest Canadian province by population and home to both the nation’s capital and most populous city.

The following Shearman & Sterling team advised Ontario on the transaction: partners Jason Lehner (Toronto/New York-Capital Markets) and Laurence Crouch (Menlo Park-Tax); counsel Kevin Roggow (Toronto-Capital Markets); and associates Heather Pals (Toronto-Capital Markets), Ryan Robski (Toronto-Capital Markets) and Emalie Sundale (Menlo Park-Tax).