Table of contents

Bondholder information

The Province's borrowing programs are managed by the Treasury and Risk Management (TRM) Division of Treasury Board and Finance.

Alberta’s borrowing programs

The Province has several borrowing programs through the issuance of bonds and promissory notes in the domestic and international capital markets. TRM handles the Province’s cash management and use of financial derivatives to manage risks for:

  • the province
  • provincial corporations that have given authority to TRM to perform transactions on their behalf

The programs the Province has in place are:

  • Domestic Medium Term Note
  • Australian Medium Term Note
  • Global Bond (SEC Registered)
  • Global Medium Term Note (144a Regulation S)
  • Domestic Promissory Note
  • Domestic Treasury Bills (T-Bills) Program
  • US Commercial Paper Program

Having programs in different markets provides the Province with diverse sources of funding and ongoing access to domestic and international markets. Issuances are done in a variety of sizes, major currencies and maturities through syndicated public bond offerings and private placements.

Disclaimer: Contents are for general purposes only and do not constitute an offering of securities in the U.S. or elsewhere. Our securities may not be offered for sale in the U.S. absent registration or an exemption from registration. Any public offering of our securities in the U.S. will be made by means of a prospectus that may be obtained from us and that will contain detailed information about us and our management as well as our financial statements.

Alberta’s borrowing requirements and sources

Table 1: Borrowing requirements

Borrowing requirements
(CAD millions)		 Fiscal year
2020-21
Forecast		 Fiscal year
2021-22
Estimate		 Fiscal year
2022-23
Target		 Fiscal year
2023-24
Target
Government $22,935 $16,594 $18,088 $11,174
Provincial corporations $248 $248 $204 $394
Government business enterprises $863 $793 $451 $1,306
Total borrowing requirements $24,046 $17,635 $18,743 $12,874

Table 2: Borrowing sources

Borrowing sources
(CAD millions)		 Fiscal year
2020-21
Forecast		 Fiscal year
2021-22
Estimate		 Fiscal year
2022-23
Target		 Fiscal year
2023-24
Target
Money market (net change) $1,511 $1,041 $1,371 $1,570
Public-private partnerships (P3s) $46 $31 0 0
Term debt $22,489 $16,563 $17,372 $11,304
Total borrowing sources $24,046 $17,635 $18,743 $12,874

Source: Budget 2021-22 First Quarter Fiscal Plan Update

Debt issuance documents

As of September 16, 2021

As of November 1, 2021

Quarterly reports

Treasury and Risk Management quarterly compliance reports, including cash and debt management information

Presentations and investor resources

Meeting presentations and documents

The following documents are available in the Open Government Portal:

Alberta’s economy and statistics

Government of Alberta news

Credit ratings

The Province currently receives credit ratings from:

These firms provide an independent assessment of the credit worthiness of the Province of Alberta, typically providing a credit rating for the short-term debt, long-term debt, and a ratings outlook or trend.

Provincial credit ratings

Table 3: Credit ratings

Province of Alberta
Credit Reports		 Province of Alberta
Long-term Rating		 Province of Alberta
Short-term Rating
Moody's Investors Service (PDF, 1.2 MB)
October 9, 2020		 Aa3
(outlook stable)		 P-1
S&P Global (PDF, 131 KB)
May 17, 2021		 A
(outlook stable)		 A-1
Fitch Ratings Inc. (PDF, 5 MB)
 June 24, 2021		 AA-
(outlook stable)		 F1+
DBRS Morningstar (PDF, 395 KB)
December 18, 2020		 AA (low)
(negative trend)		 R-1 (mid)
(stable trend)

Financial and regulatory reporting

Budgets and financial reports

Regulatory filings and information circulars

The following links are for your interest and convenience. We are not responsible for these sites or content:

Responsible energy investment

The following documents are available in the Open Government Portal except where noted.

Resources and presentations

Fact sheets

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Contact

Connect with Investor Relations:

Hours: 8:15 am to 4:30 pm (open Monday to Friday, closed statutory holidays)
Phone: 780-644-5011
Toll free: 310-0000 before the phone number (in Alberta)
Email: [email protected]

Address:
Investor Relations
Alberta Treasury Board and Finance
8th Floor, Federal Building
9820 107 Street
Edmonton, Alberta  T5K 1E7

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