We are a debt issuer

Learn how we leverage the strength of our balance sheet

Investor Presentation
Date: March 31, 2022
Size: 6.8 MB
Green Bond Investor Presentation
Date: March 31, 2022
Size: 3.6 MB
2022 Annual Report
Date: March 31, 2022
Size: 11.5 MB

Latest updates

June 29, 2022

PSP Capital Inc. has issued a US$1 billion bond, with a 3.50% coupon, maturing June 29, 2027.

June 21, 2022

PSP Capital Inc. mandates Barclays, BMO Capital Markets, Goldman Sachs International and Morgan Stanley for a US$ 5-year fixed rate benchmark transaction in 144A/3(c)(7) RegS format.

June 9, 2022

PSP Investments posts 10.9% return in fiscal year 2022.

March 3, 2022

PSP Capital Inc. has issued a US$600 million bond, with a floating rate of SOFR + 24 bps, maturing March 3rd, 2025.

A strong credit profile

PSP Investments and PSP Capital's debt programs are rated AAA/AAA/Aaa/AAA.

 

The strength of our credit profile is based on our governance, Canadian government sponsorship, high liquidity standards, and conservative approach to leverage. We tailor our portfolio construction and investment strategies to achieve long-term goals and maintain our credit rating.

DBRS

Short-Term rating: R-1 (High)

Long-Term rating: AAA

Outlook: Stable

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S&P’s

Short-Term rating: A-1+

Long-Term rating: AAA

Outlook: Stable

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Moody’s

Short-Term rating: P-1

Long-Term rating: Aaa

Outlook: Stable

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Fitch Ratings

Short-Term rating: F1+

Long-Term rating: AAA

Outlook: Stable

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A strong history of rapid growth and a robust framework

Our strong historical performance and rapid growth led to the establishment of a funding platform to leverage the strength of our balance sheet. In 2005, we began issuing debt through PSP Capital, a wholly-owned and fully guaranteed subsidiary. A robust governance framework combined with a conservative approach to borrowing allowed us to attract both domestic and international investors.

Our growth and reach

Our Edge

  • Strong balance sheet
  • We are a crown entity, 100% owned by the Government of Canada
  • We operate at arm's length from the Government of Canada
  • We are an asset manager with an exclusive mandate
  • The Government of Canada has the obligation to fund the pension plans in case of actual shortfall
  • Positive projected annual cash inflows for the near future
  • Insolvency cannot occur without an act of Parliament
Our debt programs

Benefits for investors

  • Exposure to Canadian Federal SSA (Sovereign, Supranational and Agency) issuer
  • An attractive alternative to federal government and agency products
  • Positive spread vs. Government of Canada Agencies
  • Debt issuance ranks senior to pension plan liabilities
  • Frequent, predictable issuance
  • Improved secondary liquidity
  • Increasingly diversified and international investor base
View our Investor Presentation

Meet our team leader