The British Columbia Investment Management Corporation (BCI) successfully issued senior unsecured notes valued at C$1.25 billion. These notes, which featured a coupon rate of 4.90%, were slated for maturity on June 2, 2033. The settlement of the notes occurred on October 26, 2023. They garnered top ratings from three major agencies: Aaa from Moody's Investors Service, AAA from S&P Global Ratings, and AAA from DBRS Limited. The offering witnessed significant interest, being oversubscribed with orders surpassing C$1.9 billion from over 50 international investors.

BCI's strategic move to access the debt markets aimed to support the investment goals of its clients. This approach was intended to achieve greater portfolio diversification, enhance the risk-adjusted investment profile, and improve liquidity. The proceeds from this offering were earmarked for general investment purposes.

The issuance was managed on an agency basis by a syndicate of agents. This group was co-led by RBC Capital Markets and TD Securities. Other key participants included BMO Capital Markets, CIBC World Markets, Desjardins Securities, Scotiabank, and Laurentian Bank Securities, who served as co-managers in the process.