Telus opts for green mortgage bonds to support real estate financing

VANCOUVER - The partnership building Telus Garden in Vancouver has issued $225 million in green bonds, marking the first time in North America that green mortgage bonds have been used to support real estate financing.The proceeds raised by the 500 Georgia Office Partnership, the joint venture of Telus and Westbank, will be primarily used to retire short-term construction financing for the office tower (pictured). The privately-placed 3.40% 10-year bonds will mature on July 22, 2025, and include senior notes secured by the environmentally and technology-advanced development.“When the Telus Garden partnership was looking at options for retiring the short-term construction financing...