ANNOUNCEMENT 04 Mar 2021

On 4 March 2021, Canada’s export credit agency announced providing financing to Ontario Teachers’ Pension Plan Board and Public Sector Pension Investment Board to support their direct investment in the UK.

NUMBER OF INTERVENTIONS

1

  • 1 harmful
  • 0 neutral
  • 0 liberalising

SOURCE

Export Development Canada (EDC) - Canada’s export credit agency, Individual Transaction Information. Available at: https://www19.edc.ca/edcsecure/disclosure/DisclosureView.aspx?yr=2021&lang=EN

Inception date: 04 Mar 2021 | Removal date: open ended

Financial assistance in foreign market

On 4 March 2021, Canada’s export credit agency EDC announced providing financing to Public Sector Pension Investment Board, and Ontario Teachers’ Pension Plan Board to support their direct investment in relation to the acquisition of the British company Cubico Sustainable Investments Holdings Limited. Cubico Sustainable Investments is one of the world’s leading renewable energy companies. Cubico Sustainable Investments owns and operates many renewable energy projects around the world.

For the present transaction, EDC provides the financing amount in the range of CAD 100 – 200 million. Given that EDC discloses value ranges for transactions it finances rather than providing the precise values, the most conservative amount, i.e. CAD 100 million (USD 79.2 million), was set as the transaction value.

 

AFFECTED SECTORS

 

AFFECTED PRODUCTS