Telus, Enbridge Greenium Boosts Sustainability-Linked Bonds
- Asset class could become ‘new normal’ in Canada: investor
- Enbridge may issue SLB in loonies after U.S. dollar sale
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Sales of sustainability-linked bonds out of Canada are poised to take off after two first-time issuers showed companies can tap lower borrowing costs than conventional securities.
Telus Corp., which sold C$750 million ($606 million) of SLBs last week, saved about 6 basis points versus the cost of selling conventional debt, said Stephen Lewis, senior vice president & treasurer at the telecom firm. Oil pipeline operator Enbridge, which sold $1 billion of the bonds last week, realized a so-called greenium of at least 5 basis points, Max Chan, the company’s vice president of treasury, said in an interview last week.