Our financing strategy ensures liquidity to meet present and future investment needs, focusing on optimizing our credit capacity and cost of capital. We leverage both unsecured and secured financing to manage and diversify funding sources.
BCI QuadReal Realty (BQR) is our primary financing entity, holding high quality Canadian residential, industrial, office, and retail assets. It has an issuer and senior notes rating of AA (low) by Morningstar DBRS.
BQR issues bonds, including green bonds, under its Green Bond Framework.
BQR has an active $2.5 billion commercial paper program, rated R-1 (low) by Morningstar DBRS.
BQR utilizes various types of asset level financing including land, construction, term facilities, and CMHC mortgages.
In March 2022, QuadReal extended BQR’s existing $2.5 billion unsecured credit facility, into the largest sustainability linked loan (SLL) facility in the Canadian real estate market. The SLL facility incorporates two sustainability performance targets focused on reducing greenhouse gas intensity and energy usage, with incentive pricing targets are met or missed, respectively.
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