On September 21, 2018, the City of Vancouver issued $85 million of 3.10% green bonds due September 21, 2028. This represented the City’s first green bond offering.
The proceeds of the green bond offering will be used to finance City council-approved capital projects that support the City’s commitment to positive environmental goals. Eligible capital projects include renewal energy, energy efficiency, green buildings, clean transportation, pollution prevention and control, sustainable water and wastewater management, and environmentally sustainable management of living natural resources.
Farris, Vaughan, Wills & Murphy LLP, led by partner David Selley and including associate Aliza Premji, acted for the City. CIBC World Markets and RBC Dominion Securities co-led the underwriting group.