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On September 29, 2026, the Province of British Columbia completed an offering of US$3 billion in aggregate principal amount of 5.300 percent bonds, Series BCUSG-21, due September 29, 2036. Osler's representative-work page states that the offering was made through an underwriting syndicate led by TD Securities (USA) LLC, BofA Securities, Inc., CIBC World Markets Corp., Goldman Sachs International and National Bank of Canada Financial Inc. The fiscal agency agreement records an underwriting agreement dated September 22, 2026 between the Province and the underwriters' representatives. The bonds are direct and unconditional general obligations of the Province. They rank equally with its other unsecured and unsubordinated obligations and are payable out of the Consolidated Revenue Fund of British Columbia. Interest is payable semi-annually, starting March 29, 2027. The Bank of New York Mellon acts as fiscal agent, registrar, transfer agent and principal paying agent. The fiscal agency agreement is governed by British Columbia law and the federal laws of Canada applicable there. Osler, Hoskin & Harcourt LLP acted as counsel to the underwriters, with a team of Trevor Scott and Vanessa Yee (Corporate) and Kim Maguire (Tax). The principal amount is approximately $4.256 billion using the Bank of Canada rate of US$1 = $1.4188 on September 29, 2026.
Parties
Government
Province of British Columbia
Company
TD Securities (USA) LLC
Company
BofA Securities, Inc.
Company
CIBC World Markets Corp.
Company
Goldman Sachs International
Bank
National Bank of Canada Financial Inc.
Deal Type
Public/Private OfferingIndustry
OtherTransaction
Undisclosed/ConfidentialDeal Status
ClosedClosing Date
29 September 2026