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UCP government borrows another $2.7 billion in debt

This brings the total term debt traded by the provincial government since the UCP were elected to $28.4 billion.

Last week, the provincial government updated their Term Debt Issues document, which lists all the term debt they still have outstanding.

It’s been 3 months since I last wrote about the Alberta government’s term debt, so I thought I’d write this brief update.

During that time, the UCP government traded 5 more term debts:

Month# of debtsTotal debt
August1$0.8 billion
September2$1.2 billion
October2$0.7 billion
Total5$2.7 billion

Three of the new debts will mature in 2027, another matures in 10 years, and the final one matures in 30 years.

The interest rates on these 5 debts range from 2.05% to 3.1%.

However, the effective cost of debt (or the interest rate after tax deductions) is 1.157% for the two debts from last month (last week, actually), 1.157% for August’s debt, 1.467% for the 10-year debt traded in September, and 2.257% for the 30-year debt traded in September.

This new $2.7 billion brings the total term debt traded by the provincial government since the UCP were elected to $28.4 billion.

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By Kim Siever

Kim Siever is an independent journalist based in Lethbridge, Alberta. He writes daily news stories, focusing on municipal, provincial, and federal politics, specializing in investigative journalism and critical analysis from a leftist political lens. He also writes regular editorials on general politics and social issues.

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