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By Yali N'Diaye
OTTAWA (MNI) - Canada Finance Ministry published the following press
release Tuesday, announcing it issued C$750 million December 2064 ultra-long
bonds at a yield of 2.22% (reopening):
The long-term financial security of Canadians is a cornerstone of the
Government of Canada's efforts to help protect the middle class and those
working hard to join it.
Issuing ultra-long bonds provides debt cost and risk protection for the
benefit of Canadian taxpayers.
Finance Minister Bill Morneau today announced that the Government of Canada
successfully issued $750 million in ultra-long bonds. This reopening of the
December 1, 2064 ultra-long bond is in addition to the $3.5 billion in
ultra-long bonds that are currently outstanding.
The additional issuance of bonds in the ultra-long sector is in line with
the commitment that the Government made in Budget 2017 to reallocate short-term
bond issuance towards long-term bonds in order to lock in low funding costs and
reduce refinancing risk.
-This is the Government's fourth issuance of ultra-long bonds since the
start of 2014.
-Today, the Government issued $750 million of ultra-long bonds that mature
on December 1, 2064 at a yield of 2.22 per cent.
-Canada received strong demand from both domestic and international
investors, with 11 individual accounts across most investor types participating
in the issue.
-With the additional issuance of $750 million, the Government has now
issued a total of $4.25 billion in ultra-long bonds.
-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.
--MNI Ottawa Bureau; +1 613 869-0916; email: email@example.com