VANCOUVER, BC, July 31,
2024 /CNW/ - QuadReal Property Group ("QuadReal") is
pleased to announce today the successful green bond issuance of
$400 million of 4.16% Series 6 Senior
Notes maturing July 31, 2027 (the
"Senior Notes") issued by BCI QuadReal Realty ("BQR"). BQR serves
as the primary issuing entity of unsecured notes for British
Columbia Investment Management Corporation's ("BCI") real estate
program. BCI is a Canadian leader in investment fund management
that provides services to British
Columbia's public sector.
The Senior Notes were BQR's fourth green bond offering and were
issued under QuadReal's Green Bond Framework, established in July
2020. QuadReal's Green Bond Framework and Annual Green Bond
Report are available at
https://www.quadreal.com/esg/green-bonds/.
"Our green bond program has supported efforts to reduce our
environmental footprint," said Tamara
Lawson, QuadReal's Chief Financial Officer. "As a full-scale
development, investment and property management company, our Green
Bond Framework offers a well-established sustainable financing
platform that continues to resonate with investors, and reflects
our commitment to the communities in which we operate."
The Senior Notes were made on a private placement basis to
accredited investors in Canada and
are rated AA (low) with a stable trend by DBRS Limited. The
offering was made on an agency basis by a syndicate of agents
co-led by CIBC, TD, Scotiabank, and RBC. Additionally, BMO,
Mizuho Bank Securities, National Bank, SMBC, Desjardins, and Wells
Fargo served as co-managers.
About QuadReal Property Group and BCI QuadReal Realty
QuadReal Property Group is a global real estate investment,
operating and development company headquartered in Vancouver, British Columbia. Its assets under
management are $73.8 billion. From
its foundation in Canada as a
full-service real estate operating company, QuadReal has expanded
its capabilities to invest in equity and debt in both the public
and private markets. QuadReal invests directly, via programmatic
partnerships and through operating platforms in which it holds an
ownership interest.
QuadReal seeks to deliver strong investment returns while
creating sustainable environments that bring value to the people
and communities it serves. Now and for generations to come.
QuadReal: Excellence lives here.
BCI QuadReal Realty is an actively managed pooled investment
portfolio of real estate and real estate-related investments. All
the assets of BQR are held in trust by BCI and managed by QuadReal
Property Group. BQR's holdings span property types, geographic
locations, investment sizes and risk profiles. BQR's investment
strategy is to be well-diversified and to hold quality properties
and investments that will perform well across multiple economic
cycles. BQR was formerly known as Realpool Investment Fund.
www.quadreal.com
SOURCE QuadReal Property Group