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) | 2023-24 Forecast | 2024-25 Estimate | 2025-26 Target | 2026-27 Target |
|---|---|---|---|---|
| Taxpayer-supported debt | 7,330 | 7,289 | 3,571 | 6,853 |
| Provincial corporations | 525 | 503 | 455 | 459 |
| Government business enterprises | 2,913 | 408 | 350 | 700 |
| Subtotal borrowing requirements | 10,768 | 8,200 | 4,376 | 8,012 |
| Borrowing for future debt requirement | 3,000 | 11,600 | - | - |
| Total borrowing requirements | 13,768 | 19,800 | 4,376 | 8,012 |
Table 2. Borrowing sources
| Borrowing sources (CAD millions) | 2023-24 Forecast | 2024-25 Estimate | 2025-26 Target | 2026-27 Target |
|---|---|---|---|---|
| Money market (net change) | 9,279 | 2,000 | 1,500 | 1,500 |
| Term debt | 4,489 | 17,800 | 2,876 | 6,512 |
| Total borrowing sources | 13,768 | 19,680 | 4,376 | 8,012 |
Source: 2024-27 A Responsible Plan for a Growing Province
Debt issuance documents
Term debt
As of June 26, 2024
Money market debt
As of September 30, 2024
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:
- 2024 presentations
- 2023 presentations
- 2022 presentations
- 2021 presentations
- 2020 presentations
- 2019 presentations
- 2018 presentations
- 2017 presentations
- 2016 presentations
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.
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 July 26, 2024 | Aa2 (outlook positive) | P-1 |
| S&P Global May 8, 2024 | AA- (outlook stable) | A-1+ |
| Fitch Ratings Inc. June 12, 2024 | AA (outlook stable) | F1+ |
| DBRS Morningstar September 13, 2024 | AA (stable trend) | R-1 (high) (stable trend) |
Financial and regulatory reporting
Budgets and financial reports
- Budget
- Budget documents and quarterlies by fiscal year
- Annual reports (includes Consolidated Financial Statements and Performance Results)
Regulatory filings and information circulars
- Province of Alberta Canadian Treasury Bill Program: Information Circular (June 12, 2020)
- Canadian Note Program: Information Circular
- Australian Medium Term Note Program: Information Memorandum
Global Medium Term Note Programme (legal name)
- Base Offering Circular (December 8, 2022)
- Pricing Supplements:
Links
The following links are for your interest and convenience. We are not responsible for these sites or content:
- U.S. Securities and Exchange Commission
- London Stock Exchange
- Luxembourg Stock Exchange Euro MTF (multilateral trading facility), on which our global bonds are listed
- Swiss Stock Exchange (SIX), on which our CHF-denominated bonds are listed:
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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, Queen Elizabeth II Building
9820 107 Street
Edmonton, Alberta T5K 1E7