Canada Issues Ultra-Long Bonds
November 16, 2017 – Ottawa, Ontario – Department of Finance Canada
The Government of Canada's plan to strengthen the middle class and to ensure Canadians have the support, resources and confidence they need to succeed, create jobs and grow our economy is working. Issuing ultra-long bonds helps reduce the cost of government financing over the long term and reduces refinancing risk, all to the benefit of Canadian taxpayers.
Today, the Government of Canada issued $500 million in ultra-long bonds on a tactical basis. This reopening of the December 1, 2064 ultra-long bond is in addition to the $4.25 billion in ultra-long bonds that are currently outstanding. This marks the second issuance of ultra-long bonds in 2017, following a $750 million issuance on August 29, 2017.
- This is the Government's fifth issuance of ultra-long bonds.
- Today, via modified auction, the Government issued $500 million in ultra-long bonds that mature on December 1, 2064 at a yield of 2.25 per cent.
- Canada received strong demand from both domestic and international investors.
- The Government has issued a total of $4.75 billion in ultra-long bonds since the start of 2014.
- Locking in additional low-cost funding for 50 years benefits Canadian taxpayers and reduces the Government's refinancing risk, outcomes consistent with the key objectives specified in the Government's Debt Management Strategy.
Media may contact:
Office of the Minister of Finance
Department of Finance Canada