On July 24, 2015, 500 Georgia Office Partnership, a joint venture between TELUS Corporation and Westbank Corporation, issued $225 million in green bonds. This is the first time in North America that green mortgage bonds have been used to support real estate financing. The proceeds will be used in connection with the TELUS Garden office tower, which is the first development in Vancouver to incorporate a district energy system aimed to prevent carbon dioxide emissions.
TELUS is a Canadian telecommunications company specializing in providing telecommunications products and services including access to internet, voice, entertainment, healthcare and video.
Osler, Hoskin & Harcourt LLP advised TELUS with a team consisting of Rod Davidge (Real Estate) and Douglass Dawson (Corporate).