The Department of Finance Wednesday announced the successful pricing of a U.S. dollar global bond issue.
This was the government’s fifth foreign currency bond issue in recent years, following a 5-year US$3-billion global bond issuance in 2014, a 5-year US$3-billion global bond issuance in 2012, a 10-year 2-billion euro global bond issuance in 2010 and a 5-year US$3-billion global bond issuance in 2009.
The investor base for the 3-year bond issue includes a wide range of central banks, other official institutions and foreign-based investment funds across a diverse geographical area.
The proceeds of the bond of US$3.5 billion will supplement and diversify Canada’s foreign exchange reserves.
The bond transaction achieved all of the objectives of the government, including providing cost-effective and diversified funding for the foreign reserves held in the exchange fund account, Finance says.