BCI QuadReal Realty Closes $400M Green Bond Offering
QuadReal Property Group Limited Partnership has recently concluded a significant green bond offering, underscoring its commitment to sustainable financing. A total of $400 million of 4.16% Series 6 Senior Notes, due to mature on July 31, 2027, were issued by BCI QuadReal Realty. This marks the fourth green bond offering under the auspices of QuadReal’s Green Bond Framework, which was inaugurated in July 2020.
BCI QuadReal Realty (BQR) plays a pivotal role as the primary entity for issuing unsecured notes within the British Columbia Investment Management Corporation (BCI)’s real estate program. BCI, renowned for its leadership in investment fund management, offers its services to the public sector of British Columbia.
The issuance of the Senior Notes was targeted towards accredited investors in Canada through a private placement. These notes have been rated AA (low) with a stable trend by DBRS Limited. The syndicate of agents responsible for the offering was co-led by renowned financial institutions including CIBC, TD, Scotiabank, and RBC, with additional collaboration from BMO, Mizuho Bank Securities, National Bank, SMBC, Desjardins, and Wells Fargo serving as co-managers.
From its headquarters in Vancouver, British Columbia, QuadReal Property Group has effectively positioned itself as a global entity in the real estate investment, operation, and development sectors. Handling assets that amount to $73.8 billion, the company has flourished from its Canadian roots to engaging in direct investments and forming strategic partnerships on a global scale, aiming to generate robust investment returns while fostering sustainable development for the welfare of communities and future generations.
Tamara Lawson, QuadReal’s Chief Financial Officer, expressed enthusiasm for the green bond program, highlighting its pivotal role in minimizing the environmental impact. She emphasized the Green Bond Framework as a cornerstone for sustainable financing, reflecting QuadReal’s dedication to community welfare.
BCI QuadReal Realty represents a dynamic pooled investment portfolio, encompassing a broad spectrum of real estate and related investments. Managed by QuadReal Property Group, BQR’s investment approach is characterized by diversification and a focus on quality assets capable of weathering multiple economic cycles. Initially known as the Realpool Investment Fund, BQR’s strategic vision continues to pivot towards sustainability and long-term value creation.
As QuadReal continues to redefine excellence in the real estate sector, its latest green bond offering stands as a testament to the company’s unwavering commitment to sustainable practices and financial innovation.
