Export Development Canada issues its sixth green bond at USD$1 billion

EDC has offered more than $2 billion in green bonds since 2014

OTTAWA, ON, June 12, 2024 /CNW/ – In an effort to support a low-carbon future, Export Development Canada (EDC), Canada’s export credit agency, has issued a USD$1 billion green bond. The bond will attract capital for climate-focused investments and help progress EDC’s sustainable finance efforts.

This is EDC’s first bond issued under its Sustainable Bond Framework, which it released in 2022 to enable greater financial support for initiatives that create a more equitable and sustainable world. This is an evolution of our Green Bond Framework, under which we have been issuing green bonds since 2014, adding categories for social and transition bonds. 

“With the increasing demand for sustainable investments, EDC is an important source of financing for the innovative companies and projects that are addressing major global issues like the climate crisis,” said Scott Moore, Executive Vice-President, Finance and Chief Financial Officer, EDC. “With the issuance of this latest bond, we hope to bring more international investors to the table to further stimulate the growth of the green bond market and bring more capital to Canada to support climate investments.”

This is EDC’s fourth green bond in U.S. dollars and its sixth green bond overall. Previous bonds issued include CAD$500 million in August 2019, CAD$500 million in August 2017, USD$500 million in May 2017, USD$300 million in December 2015 and USD$300 million in January 2014. Each bond received strong support from the investor community.

Proceeds of all EDC’s green bond offerings go toward EDC’s portfolio of green assets, including loans made to companies active in clean transportation, renewable energy, energy efficiency, pollution prevention and sustainable water management. The proceeds from our prior issuances have so far helped finance approximately 50 transactions across a range of sectors focused on mitigating climate change and minimizing environmental impact.

EDC’s green bond has a fixed rate coupon of 4.75% and it matures June 5, 2034. The lead underwriters were BMO Capital Markets Corp., BNP Paribas, J.P. Morgan Securities Plc, and RBC Capital Markets, LLC. This offering settled on June 5, 2024.

This press release shall not constitute an offer to sell or the solicitation of any offer to buy. There shall not be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.

Forward Looking Statements

Statements made in this press release which describe EDC’s intentions, expectations, beliefs, or predictions may be forward-looking statements within the meaning of securities laws. EDC cautions that, by their nature, forward-looking statements involve risk and uncertainty, and that EDC’s actual results could differ materially from those expressed or implied in such forward-looking statements.

Additional Resources:

• 2023 Sustainable Bond Impact Report
• 2023 Integrated Annual Report
• 2023 Climate-Related Disclosure

About EDC

Export Development Canada (EDC) is a financial Crown corporation dedicated to helping Canadian businesses make an impact at home and abroad. EDC has the financial products and knowledge Canadian companies need to confidently enter new markets, reduce financial risk and grow their business as they go from local to global. Together, EDC and Canadian companies are building a more prosperous, stronger and sustainable economy for all Canadians.

For more information and to learn how we can help your company, call us at 1-800-229-0575 or visit www.edc.ca.

SOURCE Export Development Canada 2 (EDC)