Ontario Teachers’ Finance Trust in C$1 Billion Offering

Cleary Gottlieb is representing Ontario Teachers’ Finance Trust (OTFT) in a Reg S senior notes offering under its global debt program of C$1 billion 4.3% senior notes due 2034 guaranteed by the Ontario Teachers’ Pension Plan Board (Ontario Teachers’).

The joint bookrunning managers for the offering are BMO Capital Markets, CIBC Capital Markets, RBC Capital Markets, Scotiabank, and TD Securities. The co-manager for the offering is National Bank of Canada Financial Markets. The transaction launched on June 10, 2024, priced on June 11, 2024, and is expected to close on June 18, 2024.

OTFT is an unincorporated closed-end trust that was established under the laws of the Province of Ontario, whose beneficiaries are wholly owned subsidiaries of Ontario Teachers’. Ontario Teachers’ is a globally active investor with holdings in more than 50 countries across diversified sectors and asset classes. It, among other things, administers the assets of the Ontario Teachers’ Pension Plan, earns money through investing, and pays benefits to plan members and their survivors.