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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

I live in Lethbridge with my spouse and 5 of our 6 children. I’m a writer, focusing on political news, social issues, and the occasional poem. My politics are radically left. I recently finished writing a book debunking several capitalism myths. My newest book writing project is on the labour history of Lethbridge.

I’m also dichotomally Mormon. And I’m a functional vegetarian: I have a blog post about that somewhere around here. My pronouns are he/him, and I’m queer.

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