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Fisher declined to discuss how much business Suncor had done with HSBC, or whether HSBC was its banker. However, disclosures show HSBC acted as an adviser to Suncor in 2016 when the oil producer announced its intention to repurchase $1.5-billion of its bonds to cut its debt load.

HSBC Bank Canada spokesperson Sharon Wilks said the bank does not comment on specific clients.

The bank has been a significant lender in the oilsands. Data from the Fossil Fuel Finance Report Card 2018, which is compiled by environmental organizations including Oil Change International, show that after Canada’s big five banks and JP Morgan Chase, HSBC has been the biggest lender to the oilsands between 2015 and 2017 with $3.9 billion lent to the sector during the period.

Suncor president and CEO Steve Williams had previously expressed his frustration with HSBC and urged the bank to reconsider its energy-lending plan because, he said, it is not based on results. He also said Suncor doesn’t need the bank.

“I have a very long list of bankers (willing to work with the company) so I can’t include them in all the business,” Williams said at an event in June. “The world’s capital is coming to offer itself to Suncor and companies like us so, no, it’s not having an impact. It’s not driving up our costs.”