The province of Ontario is poised to close its second green bond offering, according to reports, this time with a price of $750 million. In its first green bond issued in 2014, under the same framework, proceeds were used primarily to fund the Eglinton Crosstown rail link.
There's no word on what the province will fund with the newest green bond, other than they will be used for eligible projects, which means "all projects funded by the province that have environmental benefits, exclusive of fossil fuel and nuclear energy projects," the province said in a regulatory filing.
Ontario's first green bond was for $500 million for a term of four years. Ontario is so far the only Canadian province to issue green bonds. By comparison, China has issued $5 billion in green bonds so far this year.
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