CANADAFiscal Agency Agreement • February 26th, 2014 • Canada • Foreign governments • Ontario
FISCAL AGENCY AGREEMENT dated as of February 27, 2014 (“Agreement”), between Her Majesty in right of Canada, as represented by the Minister of Finance, (“Canada”) and Citibank, N.A. (“Citibank”), a national banking association, as fiscal agent, transfer agent, registrar and principal paying agent.
CANADA UNDERWRITING AGREEMENTUnderwriting Agreement • February 26th, 2014 • Canada • Foreign governments • New York
The USD issue will provide funds to supplement and diversify Canada’s foreign exchange reserves. Proceeds will not be used for financing Canada’s deficit, or any other kinds of government financing or program spending, which are financed exclusively through domestic C$ borrowing programs. Canada holds its foreign exchange reserves in the Exchange Fund Account (EFA). EFA assets provide foreign-currency liquidity and support the promotion of orderly conditions for the Canadian dollar in foreign exchange markets. Funds for the EFA can be raised through cross-currency swaps of Canadian dollar borrowings, foreign currency-denominated debt issues and outright purchases of foreign currency. Most recently, Canada issued a US$3 billion global in 2012. Prior to that, Canada issued a US$3 billion and a Euro 2 billion in 2009 and 2010 respectively. The USD issue will further add to the diversification of the Government’s sources of foreign-currency financing. Transaction Details Principal Amount:
