Shearman And Sterling

News Nov 25, 2020

Ontario Teachers' €750 Million Senior Notes Offering

Shearman & Sterling advised BNP Paribas, Citigroup Global Markets Limited, Crédit Agricole Corporate and Investment Bank and HSBC France, as joint book-running managers, and Barclays Bank PLC, Goldman Sachs International and J.P. Morgan Securities plc, as co-managers, in connection with Ontario Teachers’ Finance Trust’s (OTFT) Regulation S private placement of €750 million aggregate principal amount of 0.050 percent senior notes due 2030. The notes are guaranteed by OTFT’s parent, Ontario Teachers’ Pension Plan Board.

Subject to final approval, the notes will be listed on the Official List of the Irish Stock Exchange (now trading as Euronext Dublin) and admitted to trading on its Global Exchange Market (GEM).

Ontario Teachers’ Pension Plan Board is a globally active investor with holdings in more than 50 countries across diversified sectors and asset classes. It administers the assets of the Ontario Teachers’ Pension Plan and manages the assets for the benefit of approximately 329,000 active and retired teachers in Ontario. The Plan had net assets of C$204.7 billion as of June 30, 2020.

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