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

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 financing requirements

Table 1. Term debt financing requirements

Budget 2018 financing requirements
(CAD millions)		 2018-19
Estimate		 2019-20
Forecast		 2020-21
Forecast
Term debt financing requirements $15,400 $17,600 $17,500

Table 2. Total financing requirements for 2018-19: term debt and short-term debt
2018-19 financing requirements
(CAD millions)		 2018-19
Estimate
Direct borrowing $11,310
Cash reserve and Working Capital $6,000
Borrowing for Orphan Well Association $145
Borrowing for provincial corporations:  
  Alberta Capital Finance Authority $3,760
  ATB Financial $3,000
  Alberta Petroleum Marketing Commission $675
  Agriculture Financial Services Corporation $406
  Balancing Pool $810
Total financing requirements $26,106
Forecast borrowing includes new requirements and maturing debt, both money market and long-term debt.

Table 3. Medium-term financing requirements: term debt and short-term debt
Budget 2018 medium-term financing requirements
(CAD millions)		 2018-19
Estimate		 2020-21
Forecast
Direct borrowing $15,756 $14,216
Cash reserve and Working Capital $6,000 $6,000
Borrowing for Orphan Well Association $188 $175
Borrowing for provincial corporations:    
  Alberta Capital Finance Authority $2,975 $4,572
  ATB Financial $1,700 $1,650
  Alberta Petroleum Marketing Commission $590 $500
  Agriculture Financial Services Corporation $463 $413
  Balancing Pool $1,010 $1,210
Total financing requirements $26,682 $28,736
Forecast borrowing includes new requirements and maturing debt, both money market and long-term debt.

Debt issuance documents

As of October 17, 2018:

As of September 12, 2018:

Presentations and investor resources

Investor fact sheet

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.

Province of Alberta current credit ratings

Table 4. Credit ratings

Province of Alberta
Credit Reports		 Province of Alberta
Long-term Rating		 Province of Alberta
Short-term Rating
Moody's Credit Report (PDF, 1.2 MB)
July 17, 2018		 Aa1
(Outlook negative)		 P-1
S&P Credit Report (PDF, 303 KB)
May 17, 2018		 A+
(Outlook stable)		 A-1+
Fitch Credit Report (PDF, 124 KB)
June 6, 2018		 AA
(Outlook stable)		 F1+
(Outlook stable)
DBRS Credit Report (PDF, 228 KB)
May 30, 2018		 AA
(Negative trend)		 R-1 (high)
(Negative 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 in Alberta

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

Fact sheets and presentations

Fact sheets

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Contact

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: investor@gov.ab.ca

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