PSP Investments Raised $1.25 Billion in Senior Notes Due 2024

Posted on 09/19/2021

It costs money to pay for buyout deals. PSP Capital Inc. is the debt raising arm of PSP Investments. PSP Capital’s U.S. Rule 144A/Regulation S private placement raised USS $1.25 billion aggregate principal amount of 0.500% Senior Notes maturing September 15, 2024. The notes were issued under PSP Capital’s debt issuance program, and are guaranteed by PSP Capital’s parent, Public Sector Pension Investment Board (PSPIB or PSP Investments). The notes were listed on the Official List of the Irish Stock Exchange (now trading as Euronext Dublin) and admitted to trading on its Global Exchange Market.

Law firm Shearman & Sterling advised the agents in connection with PSP Capital’s U.S. Rule 144A/Regulation S private placement.

The deal was revealed on September 8, 2021.

Disclosed on June 29, 2021, PSP Capital issued its first ever US$ 1 billion bond, with a 1.00% coupon, maturing June 29, 2026.

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