The government of Alberta announced the launch of a new retail bond program, slated for February 2010.

Alberta Capital Bonds will be offered for sale once again across the province at banks, credit unions and investment dealers. More details on the products, which will be backed by the government, will be available closer to the selling date.

The province first issued Alberta Capital Bonds in 1987, using the proceeds to fund capital expenditures and to offset budget deficits. In 1996 it changed their name to Alberta Savings Certificates, which it last issued in 1997.

The last issue of original Alberta Capital Bonds matured on June 1, 2000, and the last issue of savings certificates matured on June 1, 2004, but the government reports that there is still approximately $3.5 million in matured certificates and bonds that have not been cashed in, or redeemed, by their owners.

IE