FISCAL AGENCY AGREEMENTFiscal Agency Agreement • November 17th, 2006 • Quebec • Foreign governments
WHEREAS pursuant to a terms agreement (the "Terms Agreement"), dated November 7, 2006, between the Issuer and Merrill Lynch, Pierce, Fenner & Smith Incorporated, as Representative of the several Underwriters named therein, which incorporates by reference all of the provisions of the Québec Underwriting Agreement Standard Provisions (Debt Securities), dated November 7, 2006, the Issuer has agreed to create, issue and sell U.S.$1,500,000,000 aggregate principal amount of 5.125% Global Notes Series QE due November 14, 2016 (herein collectively called the "Notes" or, individually, a "Note");
