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Ottawa, April 15, 1997
1997-033
Launch of Canada's Euro Medium-Term Note Program
Secretary of State Doug Peters, on behalf of the Finance Minister, Paul Martin, today announced the launch of Canada's Euro Medium-Term Note (EMTN) program. The program further diversifies the sources of cost-effective funding for Canada's foreign exchange reserves. Other sources of reserve funding include foreign currency bond issues, swaps of domestic bonds, Canada Notes and Canada Bills. Notes issued under the new program will be denominated in a range of currencies and structured to meet investor demand. Obligations will be swapped to U.S. dollars, the primary currency held in the foreign exchange reserves.
The Arranger for the EMTN program is Morgan Stanley & Co. International. The dealer group includes CIBC Wood Gundy plc, Daiwa Europe Limited, Deutsche Morgan Grenfell, Goldman Sachs International, J.P. Morgan Securities Ltd., Merrill Lynch International, Morgan Stanley & Co. International, Nomura International, RBC Dominion Securities Inc., and UBS Limited.
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For further information:
Rob Stewart
Financial Markets Division
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