The Ontario Municipal Employees’ Retirement System is closing a new offering of term notes worth US$1 billion.

The notes, which carry a five-year maturity rate, are priced at a yield of 4.43 per cent. The offering represents the ninth offering by the OMERS using U.S. currency as sovereign, supranational and agency bonds issuer.

The offering was led by central banks and official institutions (55 per cent), bank treasuries (30 per cent) and asset managers, insurance firms and pension plan sponsors (15 per cent).

Read: Ontario Teachers’ selling ownership stake in Copenhagen airport, OMERS closes €1BN term notes offering

In other investment news, the Caisse de dépôt et placement du Québec is investing $28.1 million in engineering firm Norda Stelo Inc. through an equity financing deal.

The Caisse is officially becoming a shareholder in the Quebec-based firm after acting as a lender for two years and its investment represents the company’s first equity offering in 60 years. The new funds will help the company pursue growth in natural resources and strategic industries, according to a press release.

“This partnership with Norda Stelo reflects our ambition to support the growth of companies that place sustainability and innovation at the heart of their business model,” said Kim Thomassin, executive vice-president and head of Quebec at the Caisse, in the release.

Read: Caisse backs engineering company acquisition, Ontario Teachers’ sells stake in snack food manufacturer