266.3
in net assets
343000
working members and pensioners
7.4
10 year total-fund net return
Ontario Teachers' investment funding strategy is focused on diversifying the sources of investment funding, managing the cost and maturity profile of the plan's financial liabilities, maintaining a presence in key funding markets and supporting the overall management of the plan's currency exposure of the global investment program.
The investment funding strategy contains both short-term and long-term funding sources, which collectively diversify and mitigate risk in the financial liabilities. Examples of short-term funding include bond repurchase agreements, commercial paper and securities lending agreements, while long-term funding includes unsecured term-debt issuance.
OTFT issues commercial paper and term-debt that is fully, unconditionally and irrevocably guaranteed by Ontario Teachers'. Since its inception in 2015, OTFT has issued U.S. and Canadian dollar-denominated commercial paper in addition to a global term-debt program with issuances in currencies such as USD, EUR, GBP and CAD.
| Issuance | Currency | Size | Maturity Date | Coupon |
|---|---|---|---|---|
| April 2020 | USD | $1.00 billion | April 15, 2025 | 1.375% |
| May 2020 | EUR | €1.50 billion | May 06, 2025 | 0.500% |
| September 2020 | USD | $1.50 billion | September 27, 2030 | 1.250% |
| October 2020 | CAD | $1.25 billion | October 19, 2027 | 1.100% |
| November 2020 Green Bond | EUR | €750 million | November 25, 2030 | 0.050% |
| April 2021 | USD | $1.50 billion | April 16, 2031 | 2.000% |
| May 2021 | EUR | €1.25 billion | May 19, 2028 | 0.100% |
| May 2021 | EUR | €1.25 billion | May 20, 2041 | 0.900% |
| September 2021 | USD | $2.00 billion | September 21, 2026 | 0.875% |
| October 2021 | GBP | £500 million | May 15, 2026 | 1.125% |
| November 2021 Green Bond | EUR | €500 million | November 24, 2051 | 0.950% |
| April 2022 | USD | $1.50 billion | April 13, 2027 | 3.000% |
| April 2022 | EUR | €1.25 billion | May 3, 2032 | 1.850% |
| October 2022 | EUR | €500 million | October 5, 2029 | 3.30% |
| November 2022 Green bond | CAD | $1.00 billion | June 02, 2032 | 4.450% |
| February 2023 Green bond | CAD | $1.00 billion | November 01, 2029 | 4.15% |
| April 2023 | USD | $1.5 billion | April 25, 2028 | 4.250% |
| April 2024 | USD | $1.5 billion | April 10, 2029 | 4.625% |
| June 2024 | CAD | $1.00 billion | June 2, 2034 | 4.300% |
Additional information on the debt issuances can be found on the Euronext Dublin website.
OTFT issuances are highly rated benefitting from the full, unconditional and irrevocable guarantee by Ontario Teachers'.
Major factors supporting the rating of Ontario Teachers' include:
Explore a full list of our financial reports from 2000 onwards.
Read our documented views for the last 5 years.