May 15, 2015
Province Announces Manitoba Builder Bonds Interest Rates
Finance Minister Greg Dewar today announced the interest rates for Manitoba Builder Bonds, Series 15, on sale May 19 to June 2 throughout the province.
Rates on 2015 Bonds:
- Five-year floating rate bond: 1.25 per cent for the initial year. The bonds will pay interest on an annual basis and will be redeemable annually. The interest rate on the bonds will be reset annually.
- Three-year fixed rate bond: 1.4 per cent. The bonds will pay interest on an annual basis and will not be redeemable prior to maturity.
- Five-year fixed rate bond: 1.5 per cent. Purchasers can choose either annual or compound interest and the bonds will not be redeemable prior to maturity.
The interest rate for all outstanding floating rate Manitoba Builder Bonds and Manitoba Hydro Bonds, which are adjustable and redeemable annually, has been set at 1.25 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 finance minister 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.
Manitoba Builder Bonds Series 13 three-year fixed rate bonds, Builder Bond Series 12 five-year fixed rate bonds and five-year floating rate bonds mature on June 15, 2015.
All maturities will be deposited by direct deposit.
Manitoba HydroBonds Series 11 and 12 floating rate bonds and Builder Bonds Series 13 and 14 floating rate bonds may be redeemed without penalty for the full principal amount plus interest annually during the redemption periods, by providing written notice to the registrar or by phone at (toll-free) 1-855-669-4999 (Valiant Trust Company) on or before June 9.
Further information may be obtained at www.gov.mb.ca/finance/treasury/builderbonds.htmlor by calling 1-800-565-0350 (toll-free).
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