PSP Capital Inc. distributes C$200 million of Series 6 Notes and C$500 million of Series 7 Notes

April 4, 2014

Client: Investissements PSP Investments

On April 4, 2014, PSP Capital Inc. (PSP Capital), a wholly-owned subsidiary of the Public Sector Pension Investment Board (PSP Investments), issued C$200,000,000 principal amount of Floating Rate Notes, Series 6, due April 4, 2016 and C$500,000,000 principal amount of 3.29% Notes, Series 7, due April 4, 2024 (the Notes). The Notes are unconditionally and irrevocably guaranteed by PSP Investments as to the payment of the principal and interest.

PSP Investments manages the net contributions received after April 1, 2000, from the pension plans of the federal Public Service, Canadian Forces, Royal Canadian Mounted Police and net contributions received after March 1, 2007, from the pension plan of the Reserve Force. PSP Capital was set up in response to PSP Investments’ objective to seek financing alternatives in order to optimize its leverage in its private market portfolios.

Net proceeds from the issuance of Notes will be used to finance additional investment activities of PSP Investments and/or to repay existing short term indebtedness under PSP Capital’s commercial paper program.

A syndicate of dealers co-led by TD Securities and RBC Dominion Securities and also comprised of BMO Nesbitt Burns, CIBC World Markets, Scotia Capital, Casgrain & Company, Desjardins Securities and Laurentian Bank Securities acted as agents with respect to the offering, which was completed on a private placement basis.

Norton Rose Fulbright Canada LLP acted as legal counsel to PSP Capital and PSP Investments with a team that included Solomon Sananes, Peter Riddell and Renée Loiselle.