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ItalianoBond Manitoba 0% ( CA56346ZL477 ) in CAD
| Issuer | Manitoba | ||||||||||||||||||||||||||||||||||||||||||
| Market price |  100 % ⇌ |
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| Country |  Canada
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| ISIN code |
 CA56346ZL477 ( in CAD )
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| Interest rate | 0% | ||||||||||||||||||||||||||||||||||||||||||
| Maturity | 03/05/2049 | ||||||||||||||||||||||||||||||||||||||||||
| Minimal amount | 1 CAD | ||||||||||||||||||||||||||||||||||||||||||
| Total amount | / | ||||||||||||||||||||||||||||||||||||||||||
| Cusip | 56346ZL47 | ||||||||||||||||||||||||||||||||||||||||||
| Detailed description |
Manitoba, a central Canadian province, is known for its diverse geography encompassing prairies, boreal forests, and the vast expanse of Hudson Bay, boasting a rich history shaped by Indigenous cultures and European settlement. A financial instrument of particular interest in the Canadian debt market is the bond identified by ISIN CA56346ZL477 and CUSIP 56346ZL47. This debt security, issued by the Province of Manitoba, is denominated in Canadian Dollars (CAD) and currently trades at 100% of its par value on the market. A notable characteristic of this bond is its 0% interest rate, categorizing it as a zero-coupon bond. This implies that investors do not receive periodic interest payments throughout the bond's life. Instead, the principal amount, representing the full face value, is repaid in a single lump sum upon the bond's maturity on March 5, 2049. Given its current market price at par and a zero-coupon structure, the yield to maturity for new investors would effectively be 0%, which is an uncommon feature for a long-dated security. The minimum purchase size for this instrument is set at one unit, making it accessible for various investor profiles. The Province of Manitoba, the issuer of this bond, is one of Canada's ten provinces, located in the geographical center of the country. As a sub-sovereign entity, Manitoba issues debt to finance its public services, infrastructure projects, and general budgetary requirements. The province benefits from Canada's strong economic and political stability, which typically translates into high credit ratings for its provincial bonds. Manitoba's economy is diversified, with significant contributions from agriculture, manufacturing, natural resources, and a growing presence in the services sector. Its fiscal management and economic outlook are key factors considered by investors assessing the creditworthiness of its debt issuances. The issuance of this particular bond, with its distinctive zero-coupon and 0% yield characteristic, reflects specific market conditions or strategic financing objectives on the part of the Province of Manitoba, potentially catering to investors with unique portfolio needs or those seeking a capital preservation instrument in a particular market environment, even if it offers no nominal return at current market prices. |
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