Archived - Canada Launches Its First Ultra-Long Bond Issue
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April 28, 2014 – Ottawa, Ontario – Department of Finance
Finance Minister Joe Oliver today announced that the Government of Canada successfully issued $1.5 billion in 50-year bonds.
This inaugural ultra-long issue is the first of its kind for the Government and is in line with its commitment since 2012–13 to reallocate short-term bond issuance towards long-term bonds to help reduce refinancing risk.
- Maturing on December 1, 2064, and with a yield of 2.96 per cent, this issuance will contribute to a reduction in refinancing risk at a low cost, which is consistent with the key objectives of the medium-term debt strategy.
- Alone among the Group of Seven countries, Canada continues to receive the highest possible credit ratings, with a stable outlook, from all the major credit rating agencies.
- Locking in low-cost funding for 50 years benefits taxpayers.
“In the current environment, it is both advantageous and prudent for our Government to lock in additional long-term funding. This 50-year bond will help us meet our goal of raising stable and low-cost funding to meet Canada’s financial needs and best serve taxpayers.”
- Joe Oliver, Minister of Finance
Director of Communications
Office of the Minister of Finance
Department of Finance