Peel Region announces completion of $300 million bond offering to finance key capital projects

Brampton, ON - (Apr. 9, 2025) – Peel Region is announcing the successful completion of a $300 million (CAD) 3.85% coupon, 10-year conventional bond offering that matures June 2, 2035. The transaction represents Peel’s return to capital markets, since February 2022.  This conventional bond issue has an all-in cost of 3.933 per cent, and a spread of 81.5 basis points over the Government of Canada bond.

On Monday, March 24, 2025, Peel held a national investor call ahead of the launch to provide the latest updates. The sinking fund debenture was launched on March 25, 2025, and the transaction settled on April 8, 2025. The issuance supported borrowing needs of $190 million for the Region, $60 million on behalf of the City of Mississauga and $50 million on behalf of the City of Brampton.  Net proceeds from the offering of the debentures will be used to finance Council approved key capital projects.

The debentures were sold through the Region’s debt syndicate, with CIBC World Markets Inc., National Bank Financial Inc., and RBC Dominion Securities Inc., acting as joint-lead managers. The transaction was oversubscribed by 1.5 times representing over $450 million in demand with participation from 28 investors from North America despite global market volatility, reflecting strong investor interest and confidence.

Peel Region maintains a AAA credit rating by S&P Global Ratings and a Aaa credit rating by Moody’s Ratings. These ratings reflect the Region’s prudent financial management, strong liquidity and operating results, a growing and diversified economy and tax base, and relatively low and manageable debt burden.

The Region has historically been a regular issuer in the public Canadian debt market issuing approximately $3 billion in debentures since 2010.

More information about Peel’s bond program is available here: peelregion.ca/about/finance/investor-relations