Finance Minister Greg Selinger announced the interest rates for Manitoba Builder Bonds, Series 11, on sale May 19 to June 2 throughout the province.
Rates on 2009 Bonds
• The interest rate for the Five-Year Floating Rate Bond has been set for the initial year at one per cent. The bonds will pay interest on an annual basis and will be redeemable annually. The interest rate on the bonds will be reset annually.
• The interest rate for the Three-Year Fixed Rate Bond has been set at two per cent. The bonds will pay interest on an annual basis and will not be redeemable prior to maturity.
• The interest rate for the Five-Year Fixed Rate Bond has been set at 2.75 per cent. Purchasers can choose either annual or compound interest and the bonds will not be redeemable prior to maturity.
Rates on outstanding Floating Rate Bonds
• The interest rate for all outstanding Floating Rate Bonds, which are adjustable and redeemable annually, has been set at one per cent effective June 15.
Builder Bonds are on sale from May 19 to June 2 at banks, trust companies, credit unions, caisses populaires and investment dealers throughout Manitoba. The minister of finance may terminate the selling period or reduce the maximum individual purchase amount upon 24 hours notice. The bonds may only be purchased by residents of Manitoba or by Manitoba-based trusts, estates, corporations or other organizations having permanent establishments in Manitoba.
Builder Bonds Series 8 Five-Year Fixed and Five-Year Floating Rate Bonds and Manitoba Hydro Bonds Series 9 Three-year Fixed Rate Bonds mature on June 15 and will be redeemed by direct deposit.
Builder Bonds Series 9 Floating Rate Bonds may be redeemed without penalty for their full principal amount plus interest annually during the redemption periods by providing written notice to the registrar or by telephoning the registrar at 1-800-429-6634 (Computershare) on or before June 9.
Builder Bonds Series 10 Floating Rate Bonds and Hydro Bonds Series 9 and 10 may be redeemed without penalty for their full principal amount plus interest annually during the redemption periods, by providing written notice to the registrar or by telephoning the registrar at 1-888-262-4168 (CIBC Mellon Trust) on or before June 9.
Further information may be obtained by calling the toll-free bond line at 1-800-565-0350.
