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MNI BRIEF: Canada Targets Long Bonds For 35% Of New Sales

(MNI) Ottawa
OTTAWA (MNI)

Canada's government will aim for 35% of bond sales to be made at maturities of 10 years or more in the fiscal year that began April 1, an elevated share that seeks to lock in lower borrowing costs, according to a debt strategy published alongside the budget Thursday.

The plan also calls for continued sales of 50-year bonds, and the overall term to maturity rising to just under seven years from about five years seen in mid-2020, the finance department said. A second sale of green bonds is also being planned. Before the pandemic 20% of bond sales were long-term.

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Canada's government will aim for 35% of bond sales to be made at maturities of 10 years or more in the fiscal year that began April 1, an elevated share that seeks to lock in lower borrowing costs, according to a debt strategy published alongside the budget Thursday.

The plan also calls for continued sales of 50-year bonds, and the overall term to maturity rising to just under seven years from about five years seen in mid-2020, the finance department said. A second sale of green bonds is also being planned. Before the pandemic 20% of bond sales were long-term.

Keep reading...Show less