Our debt programs

Our debt programs

Term debt programs

We are a frequent term issuer, launching benchmark size notes.

Our strategy is to ensure diversification of maturities to mitigate refinancing risk.

 

PSP term debt issuance program

  • $20Bln CAD Global MTN funding program – 144A/RegS format
  • $6Bln Australian MTN funding program (AMTN)
  • Increasingly global presence as a frequent, high-quality issuer
  • Focus on liquid benchmark securities in domestic and international markets
  • One of the most frequent issuers wholly owned by the Government of Canada
  • PSP Capital's Term Notes are part of the FTSE Canada Federal Index, the Bloomberg Barclays Global Aggregate Index, the JP Morgam Global Aggregate Index and the Bloomberg AusBond Index

Green Bond Program

Our funding strategy will foster ESG considerations in PSP Investments’ long-term investment decisions and support sustainable business practices. 

Our Green Bond program will support projects that contribute to positive environmental outcomes while ensuring we continue to support our overarching mandate and commitment to responsible investment.

CICERO Shades of Green rated PSP’s Green Bond Framework Medium Green. Included in the overall shading was an assessment of our governance structure, which received a score of Excellent.

Sustainable Investing
Green Bond Framework - Green Bond
Date: Feb. 14, 2022
Size: 2.8 MB
Second Opinion – CICERO Shades of Green
Date: Feb. 14, 2022
Size: 685.5 KB
Investor presentation
Date: Nov. 13, 2024
Size: 2.5 MB
Green Bond impact report 2024
Date: Sept. 11, 2024
Size: 937.3 KB

Recent term debt transactions

3.75% October 2029

Notional purchased by region: AUD$ 1.25B
  • 43%
    Americas
  • 33%
    APAC
  • 24%
    EMEA

3.25% July 2034

Notional Purchased by region: EUR 1.1B
  • 90%
    EMEA
  • 5%
    Asia
  • 5%
    Americas

Outstanding term debt transactions

Currency Ticker Notional (M) Coupon Maturity Series ISIN
USD PSPCAP Govt 1,250 3.75 October 2, 2029 G-15 US69376P2E45
AUD PSPCAP Govt 1,000 4.50 September 5, 2031 A-2 AU3CB0313088
EUR PSPCAP Govt 1,100 3.25 July 2, 2034 G-14 XS2850686812
AUD PSPCAP Govt 1,500 4.60 February 6, 2029 A-1 AU3CB0306389
CAD PSPCAP Govt 1,000 4.40 December 2, 2030 G-13 CAC75089AC33
EUR PSPCAP Govt 75 3.679 July 17 2043 G-12 XS2651516713
CAD PSPCAP Govt 2,500 4.15 June 1st  2033 G-11 CAC75089AB59
EUR PSPCAP Govt 100 3.679 March 1, 2038 G-10 XS2592841717
AUD PSPCAP Govt 200 4.824 January 31, 2033 G-9 XS2580295777
CAD PSPCAP Govt 2 000 3.75 June 15, 2029 G-8 CA69363TAS11
AUD PSPCAP Govt 230 4.5663 August 5, 2032 G-7 XS2511551512
USD PSPCAP Govt 1,000 3.50 June 29, 2027 G-6 US69376P2D61
USD PSPCAP Govt 1,000 SOFR + 24 bps March 3, 2025 G-5 US69376P2C88
CAD PSPCAP Govt 1,000 2.60 March 1, 2032 G-4 CA69363TAR38
USD PSPCAP Govt 1,000 1.625 October 26, 2028 G-3 US69376P2B06
USD PSPCAP Govt 1,000 1.00 June 29, 2026 G-1 US69375V2A07
CAD PSPCAP Govt 1,000 1.50 March 15, 2028 14 CA69363TAQ54
CAD PSPCAP Govt 1,500 0.90 June 15, 2026 13 CA69363TAP71
CAD PSPCAP Govt 1,250 2.05 January 15, 2030 12 CA69363TAN24
CAD PSPCAP Govt 1,250 3.00 November 5, 2025 11 CA69363TAM41

Short-term debt programs

We operate our short-term programs under a global limit of C$12B. We seek to promote wide distribution and liquidity by issuing on a regular basis and working with investors to meet their needs.

Canadian Promissory Notes

  • Issued under a private offering memorandum
  • For sale only to Canadian domiciled investors
  • Available in US and Canadian dollars
  • Up to 365 days maturity

US Commercial Paper Program

  • Issued under a private offering memorandum
  • For sale only to US-domiciled qualified investors
  • Available in US dollars
  • Up to 397 days maturity

Euro Commercial Paper Program

  • Issued under a private information memorandum 

  • For sale to qualified investors in the EU and UK as defined in the EU and UK Prospectus Regulation and to institutional investors in all other jurisdictions in accordance with applicable private placement exemptions 

  • Available in Euros, US Dollars, Sterling, AUD, CAD or any other currency subject to compliance with all applicable legal and regulatory requirements

  • Up to 364 days maturity 

Meet our team leader