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Tag Archives: Ontario

Loblaw says it will devote more retail space for beer in Ontario

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TORONTO — Although only a week has passed since some Ontario grocers were authorized to sell beer, one retailer is brewing bigger plans to devote more store space to the drink. Loblaw Cos Ltd. has 19 stores locations under its umbrella selling beer including grocers Loblaws, Real Canadian Superstore, Your …

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Ontario Teachers’ Pension Plan finds new chief investment officer in Denmark

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The Ontario Teachers’ Pension Plan has appointed a new chief investment officer to replace longtime CIO Neil Petroff, who retired in June. Bjarne Graven Larsen, who will also serve as executive vice-president, takes the role Feb. 1, and will report to chief executive Ron Mock. Graven Larsen is a former CIO …

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Ontario set to issue green bonds in second issue, seeks a minimum of $500 million

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The stage is set for a second green bond issue by the province of Ontario. The province, which raised $500 million of four-year debt at 1.75 per cent in October 2014, has announced the lead managers for an upcoming offering. Given that marketing has started, the deal could be priced …

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Ontario’s new exempt market rules has supporters and detractors

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Don’t count Jerome Hass, a portfolio manager at Toronto-based Lightwater Partners Ltd., among the supporters of the new exempt market rules that went into effect in Ontario this week. One of the key changes is an offering memorandum (OM) exemption that will allow investors to participate in private capital investment …

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Ontario prices second round of green bonds: $750 million at 1.95% for seven years

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Thanks to its latest issue, the amount of green bonds issued by the government of Ontario has now risen to $1.25 billion. Last Friday, Ontario priced its second issue. The province is set to raise $750 million at a coupon of 1.95 per cent. (Because the bonds were issued at …

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Ontario judge slams use of ‘boiler plate’ submissions in class action settlement motions

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Justice Edward Belobaba of the Ontario Superior Court on Friday approved a $17-million settlement in a securities class action brought against gold miner Agnico-Eagle Mines Ltd. and three of its executives. Before signing off on the settlement, he expressed concern that judges might not be putting proposed settlements through enough …

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Ontario could have surplus as high as $15B if spending had been restrained, Fraser Institute report says

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With Ontario’s 2016 budget set to land next week, all eyes are on how the province plans to balance the remaining $7.5-billion deficit by the end of next fiscal year. But a new report is offering a different narrative, looking back at how the provincial deficit ballooned to that amount …

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Ontario Chamber of Commerce calls for provincial government to help businesses transition to ORPP

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The Ontario Chamber of Commerce says the province’s businesses will need offset measures to help transition to the new Ontario Retirement Pension Plan. The 60,000-member business lobby said in a release Tuesday that the new ORPP will increase costs for employers, even when existing offset measures are taken into account. …

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Ontario Teachers’ Pension Plan, Borealis said to win bidding war for London City Airport with US$2.8 billion offer

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A consortium led by Ontario Teachers’ Pension Plan Board and Borealis Infrastructure won a bidding war to buy London City Airport for about 2 billion pounds (US$2.8 billion), according to people familiar with the matter. The group beat a rival bid from China’s HNA Group to acquire the facility from …

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Ontario’s budget deficit for 2016 shrinks more than expected to $5.7 billion

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TORONTO — Ontario Finance Minister Charles Sousa announced Thursday that the province’s budget deficit has shrunk more than expected and that the Liberals are on pace to return to a balanced budget by 2017-18, even as net debt is set to increase in that timeframe. Highlights of the 2016 Ontario …

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