Canada Considering Sale of More Ultra-Long Bonds Due in 2064Greg Quinn
Canada may sell more so-called ultra-long bonds to lock in low interest rates, the country’s finance department said today.
The sale may add to the stock of 2.75 percent coupon bonds due in December 2064 that were first sold in April, the finance department said in a statement today from Ottawa.
The issuance of any new bonds would be “subject to favourable market conditions” and use a syndicate of investment dealers to handle a sale, the government statement said, without providing further details.
The initial sale of 50-year bonds was a first for Canada and part of an overall strategy to reduce risks around refinancing maturing debt.