Alberta Capital Bonds will go on sale February 16, the Government of Alberta, said Friday.

The sales target for the offering is $100 million, and sales will end March 1, or sooner, if the target is achieved.

The bonds are non-renewable and non-transferrable, with a five-year term at a fixed rate to be announced closer to the selling date. Interest payments on the bonds will be made annually on March 15.

The minimum purchase is $1,000 with a maximum of $25,000.

The bonds will be available for purchase at participating banks, credit unions, investment dealers and ATB Financial branches in Alberta, and will only be available to Alberta residents, and Alberta-based corporations and trusts.

The funds raised through the offering will help build accommodations for Alberta seniors and will include long-term care and supportive living facilities, lodges or group homes.

“The Alberta Capital Bonds program supports the commitments we’ve made to invest in public infrastructure,” said Ted Morton, Minister of Finance and Enterprise. “It’s also a way for Albertans to invest in this province.”

IE