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 |
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 |
Debt issuance documents
As of October 1, 2019
- Term Debt Outstanding (PDF, 133 KB)
- Term Debt Maturities by Fiscal Year (PDF, 154 KB)
- Term Debt Issues (PDF, 184 KB)
- Money Market Debt Outstanding (PDF, 220 KB)
Quarterly reports
Treasury and Risk Management quarterly report as of June 30, 2019
- 2019-20 First Quarter Compliance Overview and Cash and Debt Management Update (PDF, 945 KB) (September 2019)
Presentations and investor resources
Investor fact sheet
- Alberta Investor Fact Sheet (PDF, 416 KB) - December 3, 2018
Meeting presentations and documents
The following documents are available in the Open Government Portal:
Alberta’s economy and statistics
- Economic Review and Indicators (updated weekly)
- Alberta Activity Index (updated monthly)
- Economic Trends and Spotlights (updated monthly)
- Labour Market Notes (updated monthly)
- Office of Statistics and Information
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 Opinion (PDF, 1.2 MB) March 5, 2019 |
Aa1 (Outlook negative) |
P-1 |
| S&P Global Research Update (PDF, 300 KB) February 15, 2019 |
A+ (Outlook stable) |
A-1+ |
| Fitch Press Release (PDF, 26 KB) April 4, 2019 |
AA (Outlook stable) |
F1+ (Outlook stable) |
| DBRS Press Release (PDF, 189 KB) March 1, 2019 |
AA (Negative trend) |
R-1 (high) (Negative trend) |
Financial and regulatory reporting
Budgets and financial reports
- Budget
- Budget documents and quarterlies by fiscal year
- Annual reports, Consolidated Financial Statements and Measuring Up
Regulatory filings and information circulars
- Canadian Note Program: Information Circular (PDF, 48 KB)
- Global Medium Term Note Program: Prospectus (PDF, 838 KB)
- Australian Medium Term Note Program: Information Memorandum (PDF, 916 KB)
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.
Web pages, fact sheets and presentations
- Climate change: web content related to greenhouse gas emissions management and reduction, climate change legislation, and climate change action planning.
- Global energy market outlook: hydrocarbon demand
- Methods for managing tailings; Reclamation and tailings
Fact sheets
- Indigenous leadership in Alberta’s energy sector
- Alberta’s relationship with indigenous peoples: a path to reconciliation
- Reclamation and remediation (Alberta Energy Regulator) (PDF, 1.0 MB)
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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