Green figgy bank with calculator
flynt/123RF

Export Development Canada (EDC) has issued a $500-million green bond, its fifth in as many years, the export credit agency said in a press release Thursday.

EDC said the bond will attract capital for green investment and expand the agency’s “climate-friendly financing portfolio.”

Proceeds of all EDC’s green bond offerings go toward the agency’s portfolio of green assets, such as loans made to companies active in areas of environmental protection, preservation or remediation of air, water, soil, the development of renewable energy, and reducing climate change.

The Crown corporation has issued more than $2 billion in green bonds since 2014, an indication of the increasing demand for sustainable investment products in the Canadian market, chief financial officer Ken Kember said in the release.

The agency said it hopes the latest issue will bring more domestic and international investors to the table.

The fixed rate coupon for the latest bond, which matures July 31, 2024, is 1.65%. The lead underwriters were RBC Capital Markets, CIBC World Markets Corp., LLC and TD Securities (USA) LLC.