PSP Completes Issuance of $600M Five-year Notes

On December 9, 2008, PSP Capital Inc., a wholly owned subsidiary of the Public Sector Pension Investment Board (PSP), completed an issuance of $600 million of 4.57 per cent Notes, Series 1 due December 9, 2013 (the Series 1 Notes). The Series 1 Notes are unconditionally and irrevocably guaranteed by PSP. The issuance was completed on a private placement basis with the help of a dealer syndicate co-led by TD Securities Inc. and RBC Dominion Securities Inc., and including BMO Nesbitt Burns Inc. The Series 1 Notes have been assigned a rating of AAA by DBRS Limited and AAA by Standard & Poor's Ratings Services, a Division of The McGraw-Hill Companies (Canada) Corporation.

PSP Capital and PSP were represented by a financial team led by John Valentini, executive vice president, chief operating officer and chief financial officer of PSP, and including Dino Rambidis, corporate controller of PSP, and Renaud de Jaham, treasurer of PSP. PSP Capital and PSP were also represented by a legal team led by Assunta Di Lorenzo, first vice president and general counsel of PSP, and including Alison Breen, in-house counsel of PSP. PSP Capital and PSP were assisted by Fasken Martineau DuMoulin LLP with a team led by Robert Paré and including Gilles Leclerc and Nicolas Morin (corporate and securities).

The dealers were represented by McCarthy Tétrault LLP with a team led by Clemens Mayr that included Frédéric Cotnoir and Michèle Lefaivre (corporate and securities).