Province of Ontario

SECTOR Subsovereign
RATINGS  A+/Aa3/AA-
RATING OUTLOOK All stable
FUNDING VOLUME FY21/FY22 (to 31 Mar fiscal year-end) C$59.8BN/C$53.9BN
RISK WEIGHT, LCR LEVEL 0%, Level 1
REPO ELIGIBILITY 

ECB, BoE, US Fed, BoC
About Ontario Financing Authority

The Ontario Financing Authority (OFA) was established as an agency of the Crown, on 15 November 1993, by the Capital Investment Plan Act, 1993 (the act). In accordance with the act, the OFA:
• Conducts borrowing, investment and financial risk management for the Province of Ontario.
• Manages provincial debt.
• Manages the province’s key financial relationships with investors, financial institutions, rating agencies and public bodies.
• Provides centralised financial services for the province.
• Advises ministries, Crown agencies and other public bodies on financial policies and projects.
• Assists Crown agencies and other public bodies to borrow and invest money.
• Acts at the direction of the province in lending to certain public bodies.
• Invests on behalf of some public bodies.
• With Ontario Power Generation (OPG) manages the investment activities of OPG’s Used Fuel Segregated Fund and Decommissioning Segregated Fund.
• Carries out the day-to-day operations of Ontario Electricity Financial Corporation and provides a broad range of financial services to Ontario Infrastructure and Lands Corporation.

SUSTAINABILITY OBJECTIVE OF GSS BOND PROGRAMME
Ontario’s green bonds capitalise on the province’s ability to raise funds at low interest rates and serve as an important tool to help finance public-transit initiatives, extreme-weather-resistant infrastructure, and energy efficiency and conservation projects.

GSS BOND PROGRAMME NAME Province of Ontario Green Bond Program
REFERENCE TAXONOMY FOR THE USE OF PROCEEDS Green Bond Principles and issuer’s own framework
FRAMEWORK WITH WHICH THE GSS BOND PROGRAMME IS ALIGNED Green Bond Principles 
EXTERNAL REVIEW PROVIDER  CICERO
Status of Province of Ontario notes

Province of Ontario notes constitute direct, unsubordinated and unsecured obligations of the issuer. They rank equally among themselves and with all other unsubordinated and unsecured obligations of the issuer from time to time outstanding. Payments of principal and interest in respect of the notes are a charge on and payable out of the consolidated-revenue fund of the issuer.

Sustainable funding strategy

The province remains committed to the green-bond market and expects to continue to access it on an annual basis.

FOR FURTHER INFORMATION PLEASE CONTACT:

Ontario Financing Authority, Investor Relations
+1 416 325 8000 
This email address is being protected from spambots. You need JavaScript enabled to view it.
www.ofina.on.ca