- The transaction marks a new milestone in the market as the first Canadian insurer to link its credit facility margins to sustainability targets
- Trisura worked closely with BMO Capital Markets who acted as the Sustainability Structuring Agent to align the company’s credit facility with Trisura’s commitment to advancing Environmental, Social and Governance (ESG) integration
TORONTO, April 01, 2022 (GLOBE NEWSWIRE) -- Trisura Group Ltd. (“Trisura” or “Trisura Group”) (TSX: TSU), a leading specialty insurance provider, has announced the closing of its sustainability-linked credit facility. As a first of its kind for insurers in Canada, the sustainability-linked loan is linked to Trisura’s ambition to further incorporate ESG considerations into its investment activities. The structure introduces an incentive mechanism tied to key performance indicators around Trisura’s responsible activities, including disclosure.
David Scotland, Chief Financial Officer of Trisura Group, said: “The sustainability-linked credit facility underscores Trisura’s commitment to responsible investing, which is aligned with its fiduciary responsibilities for delivering appropriate long-term investment performance. These efforts involve not only integrating ESG into our investment processes, but also enhancing our communication of key metrics and practices around ESG to Trisura’s broader stakeholders.”
“BMO is delighted to work with Trisura on its first sustainable finance transaction. Helping align the business’s financing strategy with its ESG ambitions is part of our Purpose to Boldly Grow the Good, in business and life, by being our clients’ lead partner in their transition to a net-zero world,” said Jonathan Hackett, Head, Sustainable Finance, BMO Capital Markets. “Sustainable lending continues to grow rapidly worldwide and in Canada, and BMO is proud to be the leading Canadian bank for SLL structuring.”
About Trisura Group Ltd.
Trisura Group Ltd. is an international specialty insurance provider operating in the surety, risk solutions, corporate insurance, fronting and reinsurance segments of the market. Trisura has investments in wholly owned subsidiaries through which it conducts insurance and reinsurance operations. Those operations are primarily in Canada (“Trisura Canada”) and the United States (“Trisura US”), as well as Barbados (“Trisura International”). Trisura Group Ltd. is listed on the Toronto Stock Exchange under the symbol “TSU”.
Further information is available at http://www.trisura.com/group. Important information may be disseminated exclusively via the website; investors should consult the site to access this information. Details regarding the operations of Trisura Group Ltd. are also set forth in regulatory filings. A copy of the filings may be obtained on Trisura Group’s SEDAR profile at www.sedar.com.
For more information, please contact:
Name: Bryan Sinclair
Tel: 416 607 2135
Email: bryan.sinclair@trisura.com
