QuadReal Property Group, the real estate investment arm of the British Columbia Investment Management Corp., has issued $350 million of 1.747 per cent series-2 senior notes maturing July 24, 2030, through BCI QuadReal Realty.

The issuance is BQR’s inaugural green bond offering. “On the back of a successful inaugural issuance and continuing low interest rate environment, our green bond platform provides additional capital in support of QuadReal’s industry-leading sustainability practices and initiatives,” said Tamara Lawson, QuadReal’s chief financial officer, in a press release.

The pool of capital generated by the issuance will support qualifying spending on projects in line with QuadReal’s recently issued green bond framework. Potential expenditures for it include green buildings, renewable energy, resource and energy efficiency, pollution prevention, clean transportation and climate change adaptation.

“We appreciate being able to benefit from the growing demand for green and sustainable financing,” said John Lee, senior vice-president of treasury and capital markets at QuadReal. “The issuance was well received, broadly distributed to 57 investors and with over 70 per cent of the issuance attributable to green investors. The successful execution of this transaction reflects the alignment between QuadReal’s vision for sustainable finance and the objective we share with our clients and investors to invest responsibly.”