QuadReal Property Group (“QuadReal”) a global real estate investment, development and operating company, is pleased to announce today the successful green bond issuance of $350 million of 3.281% Series 7 Senior Notes maturing March 14, 2028 (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 fifth green bond offering and were issued under QuadReal’s Green Bond Framework, established in July 2020. QuadReal’s Green Bond Framework is available at https://www.quadreal.com/esg/green-bonds/.
“Our well-established sustainable financing platform continues to resonate with investors,” said Tamara Lawson, QuadReal’s Chief Financial Officer. “To date we have issued $1.9 billion of total bonds under QuadReal’s Green Bond Framework and we are very pleased with the execution of this latest bond issuance amidst market volatility.”
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 BCI QuadReal Realty
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.
