British Columbia Investment Management Corporation (BCI) announced its participation in the inaugural bond issuances by Stonlasec8 Indigenous Alliance Limited Partnership. This investment supports the equity stake in Enbridge Inc.’s Westcoast System.
The capital raised through these senior and guaranteed bonds, approximately C$736 million, will enable 38 First Nations in British Columbia to complete their equity investment in the Enbridge asset. This solidifies the previously announced partnership.
This financing mechanism ensures the successful execution of the Indigenous equity ownership deal, reinforcing Enbridge's strategy of capital recycling and strengthening its relationships with Indigenous communities. It also highlights the role of institutional investors in supporting such partnerships.
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