The Caisse de dépôt et placement du Québec is underwriting $75 million of bonds issued to finance a portion of the construction of a new bridge in Quebec.
The underwriting will cover a significant portion of a $380-million issuance from Groupe Nouveau Pont Île-Aux-Tourtes Inc. It will be used to fund the construction of the Île-aux-Tourtes bridge in Montreal, which will link the city to the Vaudreuil-Soulanges region.
According to a press release, the move is part of the Caisse’s strategy to leverage various financial tools to support transformative projects across Quebec. “Rebuilding the bridge will ensure the mobility of people and goods while favouring active and public transportation,” said Marc Cormier, the Caisse’s executive vice-president and head of fixed income.
In other news, the Ontario Municipal Employees’ Retirement System’s private equity arm is backing a series C investment round for a U.S. strategic finance platform company.
OMERS Ventures is the lead investor in the US$26-million investment round for Mosaic Finance Inc., a company that operates a real-time financial analytics platform designed to support decision-making at growing organizations.
According to a press release, OMERS Ventures believes Mosaic, which saw 300 per cent top line growth last year, was able to use the round to showcase its potential. “Now, we’re excited to see how Mosaic continues to innovate and bring its strategic finance platform to finance leaders,” said Eugene Lee, a partner at OMERS Ventures.