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February 7, 2000
For immediate release

Province Issues New Debenture

Provincial Treasury

Provincial Treasurer Honourable Patricia Mella today announced the sale of a Province of Prince Edward Island debenture issue on the Canadian Bond market.

The new 30-year issue in the amount of $80,000,000 has a coupon rate of 6.80 percent. The debentures are being offered to the general public at a price of $99.379 and will yield 6.80 percent on maturity, February 21, 2030.

Mrs. Mella said, "The yield and coupon rates we managed to obtain for this issue are lower than those available for medium length debentures. We are taking advantage of market conditions to now issue a debenture. It is good news that our debenture issues continue to be well received."

"Residents of Prince Edward Island interested in purchasing these debentures should contact their local brokers immediately."

Media Contact: Doug Clow
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