Manitobans will soon be able to invest in their province while saving for the future by purchasing a Manitoba Hydro Bond, Series 11. This announcement was made by Finance Minister Rosann Wowchuk.
The bonds go on sale May 24 to June 7.
“Manitoba Hydro Bonds are a great way to save for your future and invest in our province,” said Wowchuk. “They are an affordable investment available only to Manitobans.”
Hydro Bonds are RRSP, RESP and TFSA eligible for self-directed plans to encourage saving for the future, whether it be for retirement or a child’s post-secondary education. They will be issued in denominations starting at $100 to ensure that all Manitobans have an opportunity to invest, she added.
The three investment alternatives for Manitoba Hydro Bond, Series 11 are:
• A floating-rate bond with a five-year term and an interest rate adjusted annually to reflect current market conditions. These bonds will pay interest annually and will be redeemable annually.
• A three-year, fixed-rate bond with a fixed interest rate for the term. These bonds will pay interest annually and will not be redeemable until maturity.
• A five-year, fixed-rate bond with a fixed interest rate for the term. Purchasers may select either annual or compound interest and the bond will not be redeemable until maturity.
On May 24, Hydro Bonds will be available throughout the province at banks, trust companies, investment dealers, Credit Unions and Caisse Populaires.
Wowchuk noted that prior to the bonds going on sale, interest rates for Hydro Bonds, Series 11 will be announced. Rates will also be announced for the outstanding floating-rate bonds from Builder Bonds Series 10, 11 and 12 as well as Manitoba Hydro Bonds Series 10.
Further information can be obtained by calling the information line at 1-800-565-0350 (toll-free).
