Finance Minister Joe Oliver today announced that the Government of Canada successfully issued $1.0 billion in 50-year bonds. This is in addition to the $2.5 billion in 50-year bonds currently outstanding.
The additional issuance of bonds in the ultra-long sector is in line with the commitment the Government made in Economic Action Plan 2012 to reallocate short-term bond issuance towards long-term bonds to help reduce refinancing risk and to lock in low funding costs for Canadian taxpayers.
- With the addition of $1.0 billion in issuance today, the Government has now issued a total of $3.5 billion in 50-year bonds.
- Locking in additional low-cost funding for 50 years benefits Canadian taxpayers and reduces the Government’s refinancing risk, which is consistent with the key objectives of the medium-term debt strategy.
Quote"I am pleased to announce another successful reopening of Canada's 50-year long-term bond. With this transaction, the Government continues to deliver on its commitment to secure low-cost funding for Canadians. We have also seen growing diversity in our investor base, which is a testament to Canada's strong economic and fiscal position and to the flexibility and options associated with Canada's debt securities program."
- Joe Oliver, Minister of Finance