The Government of Ontario plans to launch a green bond program in the coming weeks.
It will be the first government in Canada to issue green bonds.
The bonds will help Ontario finance transit and other environmentally-friendly infrastructure projects across the province. The Eglinton Crosstown light-rail transit project in Toronto will receive funding from the inaugural issue, which is expected to be up to $500 million in size.
Ontario will make the first green bonds available through its current dealer group to Canadian and international institutional investors to help establish a Canadian-dollar green bond market and attract new investors.
The bonds are expected to be issued at yields similar to conventional Ontario bonds of comparable term and size.
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