Date Closed

December 9, 2008

Lead Office

Montréal

Value

600.00 Million CAD

On December 9, 2008, PSP Capital Inc. (PSP Capital), a wholly-owned subsidiary of the Public Sector Pension Investment Board (PSP), completed an issuance of C$600 million of 4.57% 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 & Poors’ Ratings Services, a Division of The McGraw-Hill Companies (Canada) Corporation.

McCarthy Tétrault LLP advised the syndicate of underwriters with a team led by Clemens Mayr.