Canada NewsWire
MONTREAL, Oct. 2, 2019
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MONTREAL, Oct. 2, 2019 /CNW Telbec/ - National Bank of Canada ("National Bank") today announced its inaugural USD 750 million 3-year Sustainable Bond offering. The net proceeds will be used to finance and/or refinance, in whole or in part, future or existing eligible businesses and projects in green and social assets, such as hydro power, social housing or daycare centers. Other eligible investment categories may include renewable energy, sustainable buildings, low-carbon transportation, affordable housing and access to basic or essential services. This offering reinforces National Bank's commitment to financing environmental and social projects, and its goal of having a positive impact on people's lives.
"The recent signature of the Principle for Responsible Banking is a commitment that National Bank of Canada intends to honour once again with tangible actions," said Louis Vachon, President and CEO of National Bank.
"This Sustainable Bond offering is the first by a North American bank. Not only is this offering a clear indication of the Bank's interest in these innovative products and the scope of development capacity in Canada, but it also shows our willingness to make an impact on the way capital markets can contribute to the environmental and social good," said Jean-Sébastien Gagné, Treasurer at National Bank.
National Bank launched its Sustainability Bond Framework in September 2018 as the first integrated sustainable bond framework in Canada. It is in line with the ICMA Green Bond Principles and Social Bond Principles, and was reviewed by Vigeo Eiris, a leading independent global ESG research, ratings and assessment firm.
This Sustainable Bond offering enhances National Bank's commitment in the social responsibility space, as evidenced by the key achievements the Bank recently announced:
Additional information
Forward-looking information
This press release includes certain forward-looking statements. These statements are inherently subject to significant risks, uncertainties and changes in circumstances, many of which are beyond the control of the Bank, including obtaining the necessary regulatory approvals, the risks associated with changes in general economic conditions, and changes made to guidelines on risk-weighted capital and their interpretation. Except as required by law, the Bank does not undertake to update any forward-looking statements, whether written or oral, that may be made from time to time, by it or on its behalf. The forward-looking information contained in this press release is presented for the purpose of interpreting the information contained herein and may not be appropriate for other purposes.
About National Bank of Canada
With $276 billion in assets as at July 31, 2019, National Bank of Canada, together with its subsidiaries, forms one of Canada's leading integrated financial groups. It has nearly 25,000 employees in knowledge-intensive positions and has been recognized numerous times as a top employer and for its commitment to diversity. Its securities are listed on the Toronto Stock Exchange (TSX: NA). Follow the Bank's activities at nbc.ca or via social media such as Facebook, LinkedIn and Twitter.
SOURCE National Bank of Canada
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