Finance Minister Rosann Wowchuk announced that Manitobans will soon be able to invest in their province while saving for the future by purchasing a Manitoba Builder Bond, Series 12. The bonds go on sale May 25 to June 8.
“Manitoba Builder 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.”
Builder Bonds are both RRSP and RESP 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 noted. They will be issued in denominations starting at $100 to ensure that all Manitobans have an opportunity to invest, she said.
The three investment alternatives for Manitoba Builder Bond, 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.
On May 25, Builder 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 Builder Bonds, Series 12 will be announced. Rates will also be announced for the outstanding floating-rate bonds from Builder Bonds, Series 10 and 11 as well as Manitoba Hydro Bonds, Series 9 and 10.
Further information can be obtained by calling the toll-free information line at 1-800-565-0350.
