November 9, 2017 / 7:05 PM / a month ago

Canada set to auction C$500 mln of its ultra-long bonds on Nov. 16

TORONTO, Nov 9 (Reuters) - Canada’s government plans to sell C$500 million of its ultra-long bonds at an auction on Nov. 16, the Bank of Canada said on Thursday, the second time in less than three months that these bonds will be sold.

The C$750 million auction in August attracted strong demand from investors for the 2.75 percent bonds, which mature in December 2064. August’s auction lifted issuance of the bonds, which were first sold in April 2014, to C$4.25 billion.

Ultra-long bonds have a term to maturity of 40 years or more and are not as common as 30-year issuance. (Reporting by Fergal Smith; Editing by Chizu Nomiyama)

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