May 5, 2014
Province Announces New Series of Manitoba Builder Bonds Available Soon
Manitobans will soon be able to invest in their province while saving for the future by purchasing a Manitoba Builder Bond, Series 14, Finance Minister Jennifer Howard announced today, adding the bonds will go on sale May 20 to June 3.
“Manitoba Builder Bonds are a great way to save for your future and invest in our province,” said Minister Howard. “They are an affordable investment available only to Manitobans.”
Builder 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 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 Bonds Series 14 are:
- Floating-rate bonds 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 bonds 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 bonds 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 20, Builder Bonds will be available throughout the province at banks, trust companies, investment dealers, credit unions and caisse populaires.
Minister Howard noted that prior to the bonds going on sale, interest rates for Builder Bonds Series 14 will be announced. Rates will also be announced for the outstanding floating-rate bonds for Builder Bonds Series 12 and 13 as well as Manitoba Hydro Bonds Series 11 and 12.
Further information can be obtained by calling the information line at 1-800-565-0350 (toll-free).
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