TransLink issues $400-million Green Bond

November 16, 2018

NEW WESTMINSTER, BC — TransLink has issued its first-ever Green Bond, becoming the first transit agency in Canada to do so, helping to satisfy strong investor interest in organizations with a compelling environmental story to tell.

The bond, valued at $400 million, is TransLink’s largest bond issuance since it started financing projects through debt capital markets in 2010.

"TransLink is committed to a sustainable future, and we’re lining up all our actions to reflect that,” said TransLink CEO Kevin Desmond. “Our customers, our community and our investors want this, and we are responding.”

TransLink is in the midst of the largest expansion to transit service in Metro Vancouver’s history, and anticipates issuing more Green Bonds to fund upcoming projects.

Pursuing Green Bonds is about aligning with TransLink’s commitment to sustainability. Last month, the TransLink Board approved a plan to reduce greenhouse gas emissions by 80 per cent and to use 100 per cent renewable energy by 2050.

In the past, TransLink has issued conventional bonds even though most projects have been environmentally friendly. Green Bond-financed projects will add a higher level of accountability. TransLink’s Green Bond Framework follows the Green Bond Principles and has received second-party review from Sustainalytics.

Demand for Green Bonds is high in the investment community, and the response to the issuance among investors was significant. Not only did the bond issue offer a certified “green” option for investors, but TransLink also gave preference to investors with strong green mandates of their own.

Meantime, TransLink maintains a robust credit rating.

In October, Dominion Bond Rating Service (DBRS) reaffirmed TransLink’s AA stable credit ratings and Moody’s Investors Service reaffirmed TransLink’s Aa2 stable credit ratings. Credit rating reports are available at translink.ca. Both agencies highlight sound financial management, and strong regional economic growth dynamics that are driving increased ridership.

Learn More:

TransLink Green Bond Framework

TransLink Investor Relations

Media contact:

TransLink Media Relations
C: (778) 375-7788

E:
media@translink.ca

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