QUÉBEC, Feb. 14, 2019 /CNW Telbec/ - The Québec government has launched today a fourth Green Bond issue totalling $800 million which will mainly be used to finance the Réseau express métropolitain (REM).
Like the first three issues made by the Ministère des Finances since February 2017, the fourth issue has generated strong investor interest. Investors specializing in green finance, many of whom are from abroad, have contributed significantly to all four issues.
Managed by CDPQ Infra, a wholly owned subsidiary of Caisse de dépôt et placement du Québec, the $6.3 billion REM project is a fully automated and electric light rail metro transit system made up of 67 km of rail lines and located in the Montréal area. The Québec government made an equity investment of $1.28 billion which will be financed by issuing Green Bonds.
The Québec Green Bond program also continues to finance the Société de Transport de Montréal's acquisition of AZUR metro cars for the Montréal métro and hybrid buses.
- Green Bonds make it possible to finance projects that engender tangible benefits in the realm of environmental protection, greenhouse gas emission reduction or adaptation to climate change.
- Eligible projects are selected by the Green Bond Advisory Committee, which is composed of representatives from the Ministère des Finances, the Ministère de l'Environnement et de la Lutte contre les changements climatiques, the Secrétariat du Conseil du trésor and the Ministère des Transports.
- Québec Green Bonds have the same characteristics as conventional bonds in terms of price, yield, maturity and credit ratings.
To obtain additional information on the Québec government's Green Bond program:
SOURCE Ministère des Finances
For further information: Jacques Delorme, Media Relations Officer, Direction des communications, Ministère des Finances, Telephone: 418 528-7382