Canada-Backed Social Housing Lender Starts Bond Funding Plan
- HIC is marketing a 40-year amortizing bond via Scotia, TD
- The non-profit aims to complete the sale in coming weeks
Photographer: Brent Lewin/Bloomberg
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HPC Housing Investment Corporation, a not-for-profit lender supported by the Canadian government, is starting its yearly debt funding plan for over C$350 million ($275 million) after the pandemic delayed their expansion plans.
HIC, which provides funding to social housing projects, started marketing a 40-year amortizing bond to be sold in the coming weeks, according to Shayne Ramsay, the firm’s chair of the board. Scotiabank and Toronto-Dominion Bank are arranging the deal.