(June 29 – 15:30) – Finance Minister Ernie Eves today announced $3.4 billion in Ontario Savings Bond sales, a new Canadian record for provincial savings bond issues.

This is the third year in a row that the bonds have set sales records in Canada. During 1998 and 1999 sales reached $2 billion. This year, there were three bonds to choose from. The five-year Step-Up Bond sales were $1.4 billion, the three-year Fixed-Rate Bond sales were $800 million and the seven-year Variable-Rate Bond accounted for $1.2 billion in sales.

“The OSB record sales are very encouraging because it means that not only do Ontarians have money to invest but they want to keep it here in their own province,” Eves said in a press release. “We are delighted with the results of this year’s OSB campaign,” he added.

The 2000 OSB campaign ran from June 2 to June 21. Bonds were available in amounts from $100 to $500,000, for Ontario residents only. All investments are backed 100% by the province.

Bonds were available at banks, trust companies, credit unions, caisses populaires, Province of Ontario Savings Offices and through investment dealers. They were also offered by telephone and via the Internet.
-IE Staff