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
  • 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 and the JP Morgan Global Aggregate Bond 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.

Investing responsibly
Green Bond Framework
Date: Feb. 14, 2022
Size: 8.7 MB
Second Opinion – CICERO Shades of Green
Date: Feb. 14, 2022
Size: 649.6 KB
Investor presentation
Date: March 31, 2022
Size: 8.6 MB

Recent term debt transactions

SOFR + 24 bps March 2025

Notional purchased by region : US$1.00B
  • 74%
    Americas
  • 18%
    Asia
  • 8%
    EMEA

3.50% June 2027

Notional purchased by region: US$1.00B
  • 64%
    Americas
  • 31%
    EMEA
  • 5%
    Asia

Outstanding term debt transactions

Currency Ticker Notional (M) Coupon Maturity Series ISIN
AUD PSPCAP Govt 0,230 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 1,250 0.50 September 15, 2024 G-2 US69376P2A23
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 1,500 2.09 November 22, 2023 9 CA69363TAK84
CAD PSPCAP Govt 1,500 3.29 April 4, 2024 7 CA69363TAH55
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

Meet our team leader