Canadian investor in sustainability bond issue
Ivanhoé Cambridge has announced the successful issuance of its first sustainability bond.
The Canadian real estate investor said the C$300 million ($229 million) AA-rated carried a coupon rate of 4.994% and matures on June 2, 2028. Ivanhoé Cambridge is the first real estate investor to issue a senior unsecured sustainability bond in Canada.
The funds raised will be used to finance or refinance eligible projects as defined in the company’s new sustainable financing framework. The proceeds of this bond issue will be allocated to the CICB SQUARE building at 81 Bay Street in Toronto (pictured above) and to certain buildings in a US multifamily portfolio.