MONTREAL, June 5, 2017 – BNY Mellon, a global leader in investment management and investment services, has been appointed fiscal agent, registrar, principal paying agent and transfer agent by the Province of Quebec for the issuance of its first green bond.
The proceeds of the C$500 million 1.650% Global Notes Series QR due March 3, 2022 are expected to fund public transit projects designated as meeting the green bond’s framework selection criteria, including new metro subway cars, among other things.
Quebec is the second Canadian province to issue green bonds; Ontario was the first to do so in 2014.
“We are pleased extend our track record in supporting government green bond issuers in Canada," said Sonia Chaliha, Managing Director and Business Head for Latin America and Canada for BNY Mellon Corporate Trust. "The province of Quebec is securing a diversified funding source—achieving a wide domestic and international primary market distribution—while meeting public mandates for reducing GHG emissions. The green bond market has shown tremendous annual growth to date, and we anticipate that new issuance volumes could reach in the range of $120-150 billion this year.”
BNY Mellon Corporate Trust, through BNY Trust Company of Canada, provides global trust and agency services to Canadian issuers interested in tapping the global capital markets, as well as any issuer looking to issue in the Canadian domestic capital markets.
BNY Mellon is the premier provider of corporate trust services to the debt capital markets, providing customized and market-driven solutions to investors, bondholders and lenders. As of March 31, 2017, BNY Mellon Corporate Trust served as trustee and/or paying agent on more than 55,000 debt-related issues globally. The corporate trust business utilizes its global footprint and expertise to deliver a full range of issuer and related investor services including trustee, paying agency, fiduciary, escrow, and other financial services. The business administers a wide array of assets and types of programs to multinational corporations, financial institutions, governments and their agencies, and the banking, securities, and insurance industries.
BNY Mellon is a global investments company dedicated to helping its clients manage and service their financial assets throughout the investment lifecycle. Whether providing financial services for institutions, corporations or individual investors, BNY Mellon delivers informed investment management and investment services in 35 countries and more than 100 markets. As of March 31, 2017, BNY Mellon had $30.6 trillion in assets under custody and/or administration, and $1.7 trillion in assets under management. BNY Mellon can act as a single point of contact for clients looking to create, trade, hold, manage, service, distribute or restructure investments. BNY Mellon is the corporate brand of The Bank of New York Mellon Corporation (NYSE: BK). Additional information is available on www.bnymellon.com. Follow us on Twitter @BNYMellon or visit our newsroom at www.bnymellon.com/newsroom for the latest company news.