Manitobans will soon be able to invest in their province while saving for the future by purchasing Manitoba Hydro Bonds, Series 12, available May 21 to June 4. This announcement was made by Finance Minister Stan Struthers.
“Hydro is our province’s oil, only cleaner and greener. Manitobans know the importance of developing hydro to ensure a prosperous economy for generations to come,” said Struthers. “These bonds are affordable and smart, secure investments which will help families save for their futures while building the future of Manitoba.”
Hydro Bonds are RRSP, RESP and TFSA eligible for self-directed plans to encourage saving for the future whether that be retirement or for a child’s post-secondary education, the minister said. The bonds will be issued in denominations starting at $100 to ensure that all Manitobans have an opportunity to invest, he added.
The three investment alternatives for Manitoba Hydro Bonds, Series 12 are:
- 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.
- 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.
- 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.
Starting May 21, Hydro Bonds will be available throughout the province at banks, trust companies, investment dealers, credit unions and caisse populaires.
Struthers noted that, prior to the bonds going on sale, interest rates for Hydro Bonds, Series 12 will be announced. Rates will also be announced for the outstanding floating rate bonds for Builder Bonds Series 11, 12 and 13 as well as Manitoba Hydro Bonds Series 11.
For further information, call the information line at 1-800-565-0350 (toll-free).
