Technology

OPG issues $300 million in bonds under Sustainable Finance Framework

Published

2 years ago

September 18, 2024

Canada’s largest corporate green bond issuer has raised $1.5B in 2024

TORONTO, Sept. 18, 2024 /CNW/ – Ontario Power Generation has issued $300 million of bonds under its Sustainable Finance Framework.

The company will use net proceeds of the September issuance to fund a range of low-carbon energy projects.

Since 2018, OPG has been Canada’s largest corporate issuer of green bonds, totalling approximately $4.6 billion, including offerings by its subsidiaries. To date in 2024, OPG and its subsidiaries have issued $1.5 billion in green bonds, including $1.3 billion under the recently released Sustainable Finance Framework.

OPG offered the bonds as part of its medium-term notes program in each Canadian province, through a syndicate of agents jointly led by RBC Capital Markets and TD Capital Markets as Lead Agents and Joint Bookrunners.

Key facts

Under the company’s new Sustainable Finance Framework, OPG may use proceeds to fund expenditures and program investments to enable opportunities for Indigenous communities and majority-owned Indigenous businesses and organizations. Examples could include OPG:Procuring products and services from Indigenous-owned businessesProviding programs that empower Indigenous-owned businesses through training, education on potential business opportunities, and mentoringProviding financing to Indigenous communities, Indigenous-owned corporations or partnerships to enable equity participation in projects of OPG or its subsidiariesOPG may also use proceeds to fund expenditures and program investments to provide specialized training, development, mentorship, and employment opportunities to Indigenous persons.Energy-related projects and programs included under the framework include:New nuclear projects, such as Small Modular Reactors, and large new nuclear, in addition to maintenance or refurbishment of existing facilitiesRenewable energy projects like hydro refurbishment, solar, wind, and hydrogen productionEnergy efficiency and management solutions such as energy storage and clean fuel storageClean transportation initiatives such as zero-emissions vehiclesInitiatives to increase climate adaptation and resilience capabilities for flood protection and extreme weather.This builds on OPG’s Green Bond Framework (2021), which for the first time, permitted funding of refurbishment and maintenance of existing nuclear facilities, in recognition of nuclear energy’s role in the global clean economy.OPG will update investors annually on the allocation of proceeds.

Quote

“Provincial forecasts show demand for low-carbon electricity potentially doubling by 2050,” said Aida Cipolla, OPG’s Chief Financial Officer and Corporate Services Officer. “This and future bond issuances will play a key role as we build out the low-carbon electricity system necessary to meet that demand, while also facilitating economic Reconciliation, another of OPG’s core commitments.”

Caution regarding forward-looking information

This press release contains forward-looking information within the meaning of applicable securities laws. Forward-looking information generally can be identified by the use of forward-looking terminology such as “outlook”, “objective”, “may”, “will”, “expect”, “intend”, “estimate”, “anticipate”, “believe”, “should”, “plans”, or “continue”, or similar expressions suggesting future outcomes or events. Some of the specific forward-looking information in this press release includes, among other things, statements regarding the intended use of net proceeds from the offering and the anticipated closing of the offering. This forward-looking information is based on a variety of assumptions and is subject to risks and uncertainties, which could cause actual results to differ materially from those that are disclosed in or implied by such forward-looking information. Additional detailed information about these assumptions, risks and uncertainties is included in OPG’s securities regulatory filings, including its most recent annual information form and management’s discussion and analysis, which can be found on SEDAR+ at www.sedarplus.ca.

About OPG

As one of North America’s largest, most diverse electricity generators, OPG invests in local economies and employs thousands of people across Ontario and the US. OPG and its family of companies are advancing the development of new low-carbon technologies, refurbishment projects, and electrification initiatives to power the growing demands of a clean economy. Learn more about how the company is delivering these initiatives while prioritizing people, partnerships, and strong communities by reading OPG’s Integrated ESG Annual Report.

SOURCE Ontario Power Generation Inc.

Technology

Department of Health – Abu Dhabi and Fred Hutchinson Cancer Center collaborate on cancer research and personalized prevention

Published

6 hours ago

May 13, 2026

ABU DHABI, UAE, May 13, 2026 /PRNewswire/ — The Department of Health – Abu Dhabi (DoH), regulator of the healthcare sector in the emirate, together with the Abu Dhabi Public Health Center (ADPHC), today announced the execution of a Memorandum of Understanding (“MOU”) with Fred Hutchinson Cancer Center (Fred Hutch), one of the world’s leading cancer research institutions and home to three Nobel laureates.

By pairing Abu Dhabi’s unified clinical and genomic data infrastructure, sovereign AI capabilities and governed data environments with Fred Hutch’s globally renowned research engine, the ensuing collaborations will pave the way to shortening the distance between scientific discovery and patient benefit, for Abu Dhabi’s community and beyond.

Among the projected collaborations, the two organizations will consider leveraging Abu Dhabi’s intelligent health system, and layering Fred Hutch’s world-class science onto the secure, high-quality, real-world data foundation Abu Dhabi has built. That foundation includes the emirate’s pioneering liquid biopsy programme launched last year, one of the first national-scale efforts of its kind anywhere in the world. Alongside Abu Dhabi’s AI multi-cancer early detection work, and the world’s largest clinically integrated population-scale genomics programme – with nearly one million genomes sequence.

During his visit to the center, HE Mansoor Ibrahim Al Mansoori, Chairman of DoH commented: “Cancer is one of the defining health challenges of our time, and progress depends on combining world-class science with population-scale data, advanced AI, and research. In Abu Dhabi, we have built an AI-enabled health system that ‘cares before it cures, delivering prevention at population scale. We are already achieving some of the highest early cancer detection rates in the world, and through our partnership with Fred Hutchinson Cancer Center we are committed to bringing breakthroughs to people in Abu Dhabi and beyond.”

“This MOU between Fred Hutch Cancer Center and the Abu Dhabi Department of Health underscores the power of working together to prevent and treat cancer,” said Thomas Lynch Jr., MD, president and director of Fred Hutch and holder of the Raisbeck Endowed Chair. “Our organizations share a deep commitment to research and to provide the highest levels of cancer prevention, diagnosis and care to our communities, and we are excited to bring our expertise, tools and datasets together to identify unique approaches to cancer care and research in pursuit of our boldest goals.”

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SOURCE The Department of Health – Abu Dhabi

Technology

L’Mychele & Associates Founder LaKessia Hill Completes North Texas FWC Hospitality Program (FIFA World Cup) and Appears on The Jeff Crilley Show

Published

6 hours ago

May 13, 2026

DALLAS, May 13, 2026 /PRNewswire/ — L’Mychele & Associates LLC is proud to announce two significant milestones for the growing strategic meetings and events firm: Founder & CEO LaKessia Hill has successfully completed the North Texas FWC Organizing Committee’s Hospitality Program and was recently featured on The Jeff Crilley Show.

These accomplishments reflect the company’s continued momentum within the hospitality, tourism, and events industries as L’Mychele & Associates expands its presence through strategic partnerships, leadership engagement, and elevated client experiences.

The completion of the North Texas FWC Hospitality Program further strengthens the company’s commitment to delivering intentional, guest-centered experiences rooted in strategy, hospitality, and meaningful connection — values that are central to the L’Mychele & Associates brand.

In addition, Hill recently joined veteran journalist and media personality Jeff Crilley on The Jeff Crilley Show to discuss her entrepreneurial journey, the vision behind L’Mychele & Associates, and the company’s approach to creating experiences as bold as its clients’ goals.

“Both opportunities represent growth, visibility, and the continued evolution of our brand,” said Hill. “Hospitality is more than service — it’s about creating intentional moments that leave lasting impressions. Being recognized through the hospitality program and having the opportunity to share our story on The Jeff Crilley Show were both incredibly meaningful experiences.”

Known for its consultative and strategy-first approach, L’Mychele & Associates specializes in executive summits, conferences, nonprofit galas, incentive experiences, corporate meetings, and curated social gatherings. The firm partners with organizations, brands, and leaders to transform ideas into impactful experiences through strategic planning, management, and execution.

Guided by the company’s signature philosophy — “The Art of Listening. The Science of Execution.” — L’Mychele & Associates continues to position itself as a strategic partner within the meetings, events, and hospitality industries.

The episode of The Jeff Crilley Show featuring LaKessia Hill is now available across multiple platforms, including YouTube, Facebook, LinkedIn, and Transistor.

About L’Mychele & Associates LLC

L’Mychele & Associates LLC is a Dallas-based strategic meetings and events firm specializing in executive summits, corporate meetings, conferences, nonprofit events, incentive experiences, and curated social gatherings. The company is known for blending strategy, hospitality, and execution to create experiences that drive connection and lasting impact.

Media Contact

LaKessia Hill
Founder & CEO, L’Mychele & Associates LLC
469-402-7825

LaKessia@LMychele.com
www.LMychele.com

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SOURCE L’Mychele & Associates LLC

Technology

HBX GROUP ANNOUNCES HALF YEAR 2026 FINANCIAL RESULTS

Published

6 hours ago

May 13, 2026

LONDON, May 13, 2026 /PRNewswire/ — HBX Group International plc (HBX Group, the Company, the Group, HBX.SM) announces its Half Year 2026 results for the six months ended 31 March 2026.

TTV up +17% to €3.8bn, and Revenue of €309m, up +1% YoY at constant currency, reflecting targeted commercial and strategic actions to prioritise growth and capture market share, partly offset by disruption from the Middle East conflictAdjusted EBITDA up +9% at constant currency to €163m, with margin of 53% expanding +4ppts in constant currency. Profit after tax was €28m (H1 25: €(227)m).Strong cash generation with 103% cash conversion and leverage at 1.7x Adjusted Net Debt / Adjusted EBITDA. S €100m share buyback programme and a 7.5 cents per share (c.€18m) interim dividend.Executing the strategic building blocks, including the acquisition of Bridgify announced today.FY26E guidance revised to reflect the impact of Middle East conflict and macroeconomic uncertainty. New FY26 guidance is for constant currency TTV growth +11% to +15%, Revenue growth -4% to +1% and Adjusted EBITDA growth -5% to -2%, and Operating Free Cash Flow conversion between 90% and 100%. Medium-term guidance is unchanged.

First half 2026 Financial Performance Summary1

6 months
ended 31
March 2026

6 months
ended 31
March 2025

Change
constant
currency2

Change

Total Transaction Value (TTV) (€m)

3,770

3,370

+17 %

+12 %

Revenue (€m)

309

319

+1 %

-3 %

Adjusted EBITDA (€m)

163

159

+9 %

+3 %

Delivering profitable growth

Group TTV increased to €3.8bn in the first half, up +17% at constant currency. TTV contribution increased from shorter lead-time bookings, Third Party Supply and Online Travel Agents.

Revenue of €309m, increased +1% in constant currency. Take rate was 8.2%, down 1.3ppts year‑on‑year.

Adjusted EBITDA increased 9%, with margin +4ppts.

Net finance costs were €35m, 77% lower than the prior year. The tax charge was €16m. Adjusted Earnings were €83m, up +44% at constant currency.

Delivering commercial milestones in line with strategy

Commercial progress in H1 2026 reflected HBX Group’s strategy to expand its global travel ecosystem and drive profitability through AI-driven operational efficiency and commercial performance. Key developments included new distribution partnerships in Asia-Pacific, acquisitions such as Bridgify and PerfectStay to strengthen experiences and dynamic capabilities, and new platform and fintech initiatives.

HBX group also continued embedding AI across products and operations, including AI-powered solutions for Bedsonline and HotelTech, while scaling internal AI agents already delivering measurable savings and supporting more than 120 identified use cases, reinforcing the Group’s connected B2B travel ecosystem strategy.

Regional performance and trading dynamics

TTV grew in double-digits in all three regions, up +18% in the Americas and +16% in both MEAPAC and Europe, at constant currency.

In Europe, TTV growth was supported by strong intra‑regional and domestic travel. Asia Pacific up +18%, partly offset by slower growth in the Middle East and disruption on some Europe-Asia corridors. In the Americas, TTV was predominantly driven by domestic demand.

Middle East impact and near‑term outlook

Since late February, the escalation of the conflict in the Middle East has impacted travel demand across affected destinations and selected international corridors, resulting in increased volatility, shorter booking windows and reduced near‑term visibility. The impact of this on H1 Group TTV growth was approximately 1ppt.

HBX Group implemented dynamic pricing, inventory reallocation and active partner support. Demand outside affected corridors has been more resilient.

Cost discipline, cash generation and capital allocation

Underlying operating costs fell by 5%. Performance was supported by productivity initiatives, automation and AI.

On a last 12-month basis, Operating Free Cash Flow was €447m, with cash conversion of 103% over the last 12 months. Adjusted Net Debt at 31 March 2026 stood at €741m.

Outlook

The Group started FY26 with strong performance. Since late February, trading conditions have been adversely impacted by the escalation of the conflict in the Middle East and broader geopolitical uncertainty.

The Group has revised its FY26 guidance. Updated outlook reflects a -4ppt effect of the Middle East conflict on TTV growth. Assumes four months of disruption with gradual stabilisation.

For the complete press release and disclaimer applicable to this information, please visit www.investors.hbxgroup.com

1 See financial statements for definitions of specific financial terms and KPIs, including any Alternative Performance Measures (APMs)
2 Constant currency changes exclude the impact of foreign exchange rate fluctuations by translating current year results at the exchange rates used in the prior year.

Contact:
Clara Truyols
clatruyols@hbxgroup.com

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SOURCE HBX Group