OMERS Finance Trust successfully completes inaugural offering of USD term notes

April 25, 2019

OMERS Finance Trust (OFT) has priced its USD 1.25 billion, five-year USD Reg S / 144a notes. The notes are guaranteed by OMERS Administration Corporation (OAC), rated Aa1/AA+/AAA/AAA (Moody's / S&P / Fitch / DBRS, all stable). This marks OFT’s inaugural offering as an SSA issuer.

BofA Merrill Lynch, HSBC, RBC Capital Markets and TD Securities acted as joint lead managers on the transaction. The five-year USD note priced at a yield of 2.619%, which is equivalent to a spread of 29.6 bps over the equivalent US Treasury. The notes mature on May 2, 2024.
 

Approximate Investor Distribution of the USD 1.25 billion five-year notes:

 

By Geography:

By Investor Type:

Americas

75.5%

Bank Treasuries & Private Banks

41.0%

Asia

-%

Central Banks & Official Institutions

37.6%

Europe, Middle East, Africa

24.5%

Asset Managers

20.4%

 

 

Other

1.0%