Finance Minister Stan Struthers announced the interest rates for Manitoba Hydro Bonds, Series 12, on sale May 21 to June 4 throughout the province.
Rates on 2013 bonds are:
- Five-year floating-rate bonds: 1.60 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 bonds: 1.65 per cent. The bonds will pay interest on an annual basis and will not be redeemable prior to maturity.
- Five-year fixed-rate bonds: 1.75 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 Hydro Bonds and Manitoba Builder Bonds, which are adjustable and redeemable annually, has been set at 1.60 per cent effective June 15, 2013.
Hydro Bonds are on sale from May 21 to June 4 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 10 five-year fixed and five-year floating-rate bonds mature on June 15, 2013. Builder Bonds Series 12 three-year fixed-rate bonds mature June 15, 2013. All maturities will be deposited by direct deposit.
Manitoba Hydro Bonds Series 11 floating-rate bonds and Builder Bonds Series 11, 12 and 13 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 toll-free at 1-855-669-4999 (Valiant Trust Company) on or before June 11.
Further information may be obtained by calling the toll-free bond line at 1-800-565-0350 or by going online.