Ontario Power Generation

The lenders in Ontario Power Generation’s US$750 million revolving credit facility


The lenders


US$750 million


Financial Services

Date Closed

November 2020


Banking and Financial Services

Lead Office



On December 17, 2020, Ontario Power Generation announced its US$750 million Senior Unsecured revolving standby credit facility. Mizuho Bank acted as administrative agent and sole lead arranger and Royal Bank of Canada acted as Sustainability Structuring Agent. The facility is the first time a Canadian energy company has secured a sustainability linked loan and allows Ontario Power Generation to reduce credit and borrowing costs if it meets sustainability targets on safety, installation of electric vehicle chargers, trees planted and hydroelectricity capacity development. This significant transaction was recognized as Canada Deal of the Year for Banking at the IFLR1000 Canada & the United States Awards 2021. Learn more about Ontario Power Generation’s US$750 million revolving credit facility.

Mizuho Bank is an integrated retail and corporate banking company focused on providing financial services to its customer base in Japan and international network of financial and business centers around the world.

Royal Bank of Canada is a global financial institution with a purpose-driven, principles-led approach to delivering leading performance.

Ontario Power Generation is an electricity generator focused on providing power to Ontarians through a diverse mix of nuclear, hydroelectric, biomass, solar and natural gas technologies.

Osler, Hoskin & Harcourt LLP advised Mizuho Bank, Royal Bank of Canada, and the lenders with a team consisting of Chris Bennett, Elizabeth Mpermperacis (Financial Services) and Rocco Sebastiano (Commercial).