Ivanhoé Cambridge successfully issues its first sustainability bond, for C$300 million

As part of its sustainable finance program, Ivanhoé Cambridge announces the successful issuance of its first sustainability bond, rated AA (low) by DBRS1, in an amount of C$300 million.

The issue carries a coupon rate of 4.994% and matures on June 2, 2028. Ivanhoé Cambridge becomes the first real estate investor to issue a senior unsecured sustainability bond in Canada. This sustainability bond has enabled Ivanhoé Cambridge to broaden its investor base and marks another important step in the company’s ambition to be a leading global sustainable investor.

The bond was placed with 35 investors, the majority of whom considered the sustainable characteristics of this instrument to be a decisive factor in their investment decision.

The funds raised through this sustainability bond will be used to finance or refinance eligible projects as defined in the new Sustainable Financing Framework available on Ivanhoé Cambridge’s website. Sustainalytics, a global leader in research and ratings, has issued a positive opinion that reinforces this new sustainable finance program, which focuses on green buildings and affordable housing. The proceeds of this bond issue will be allocated to the CICB SQUARE building at 81 Bay Street in Toronto and to certain buildings of a US multifamily portfolio.

You can read the full press release now at the link below