Tandem Health Partners has issued the first green
bond linked to a public private partnership (PPP) in North
The PPP for the development of the North Island Hospitals Project in British
Columbia (BC), Canada, is also first non-recourse private
sector green bond to be issued.
The deal, which benefits from Canada’s
mature project finance sector, comes as investors push for more
socially conscious investing. The proceeds of the
$231.5 million, July 3 offering will be used to build new hospitals in BC that meet high energy
efficiently standards, certified by an external consultant.
Failure to meet the environmental targets set out in the green bonds will invoke a
While this penalty is set out in the bond terms, failing to
meet environmental standards for...