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Export Development Canada/CN – ‘FWP’ on 8/17/22 re: Export Development Canada/CN

On:  Wednesday, 8/17/22, at 4:45pm ET   ·   Accession #:  1193125-22-223313   ·   File #:  333-261836

Previous ‘FWP’:  ‘FWP’ on 5/17/22   ·   Next:  ‘FWP’ on 2/8/23   ·   Latest:  ‘FWP’ on 2/6/24   ·   1 Reference:  To:  Export Development Canada/CN – ‘424B2’ on 8/17/22

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  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 8/17/22  Export Development Canada/CN      FWP                    1:27K  Export Development Canada/CN      Donnelley … Solutions/FA

Free-Writing Prospectus   —   Rule 163 / 433

Filing Table of Contents

Document/Exhibit                   Description                      Pages   Size 

 1: FWP         Free-Writing Prospectus                             HTML     26K 


This is an HTML Document rendered as filed.  [ Alternative Formats ]



  FWP  

Export Development Canada (“EDC”)

U.S. $3,250,000,000 3.375% United States Dollar Bonds due 2025

Final Term Sheet

August 17, 2022

 

Issuer:

   Export Development Canada

Title:

   3.375% United States Dollar Bonds due 2025

Existing Long Term Issuer Ratings*:

   Aaa Stable (Moody’s), AAA Stable (S&P)

Format:

   SEC Registered Global

Size:

   U.S. $3,250,000,000

Trade Date:

   August 17, 2022

Settlement Date:

   August 26, 2022 (T+7)

Maturity Date:

   August 26, 2025

Callable:

   No, unless a change in the laws or regulations of Canada would require the payment by EDC of additional amounts on the bonds.

Interest Payment Dates:

   Semi-annually on February 26 and August 26, commencing on February 26, 2023. Interest will accrue from August 26, 2022.

First Interest Payment Date:

   February 26, 2023

Benchmark Treasury:

   UST 3.125% due August 15, 2025

Benchmark Treasury Price and Yield:

   99-15+ / 3.307% Semi-annual

Spread to Benchmark Treasury:

   +17.325 bps

Yield to Maturity:

   3.480%

Coupon:

   3.375%, accruing from August 26, 2022

Price:

   99.703% plus accrued interest, if any, from August 26, 2022

Day Count:

   30/360 following unadjusted

Specified Currency:

   United States Dollar (“U.S.$” or “$”)

Minimum Denomination:

   $5,000 and increments of $5,000 in excess thereof

Listing:

   Euro MTF Market of the Luxembourg Stock Exchange

Status:

   The bonds will carry the full faith and credit of Canada. The payment of the principal of and interest on the bonds will constitute a charge on and be payable out of the Consolidated Revenue Fund of Canada.

Governing Law:

   The laws of Ontario and the laws of Canada applicable therein.

Business Days:

   London, New York, Toronto


Representatives:   

BMO Capital Markets Corp.

Crédit Agricole Corporate and Investment Bank

Nomura International plc

Scotia Capital (USA) Inc.
TD Securities (USA) LLC

Co-managers:   

BofA Securities, Inc.

Barclays Bank PLC

BNP Paribas

CIBC World Markets Corp.

Citigroup Global Markets Limited

Daiwa Capital Markets Europe Limited

Deutsche Bank AG, London Branch

Goldman Sachs International

HSBC Bank plc

J.P. Morgan Securities plc

Morgan Stanley & Co. International plc

National Bank of Canada Financial Inc.

NatWest Markets Plc

RBC Capital Markets, LLC

Wells Fargo Securities, LLC

Billing and Delivering:    Scotia Capital (USA) Inc.
Settlement:    DTC, CDS, Euroclear, Clearstream
CUSIP Number:    30216B JU7
ISIN:    US30216BJU70
Reference Document:   

Prospectus Supplement, subject to completion, dated August 17, 2022 and Prospectus dated March 14, 2022.

 

https://www.sec.gov/Archives/edgar/data/0000276328/000119312522222976/d393997d424b2.htm

Legends:   

This document does not constitute or form part of any offer or invitation to sell these bonds and is not soliciting any offer to buy these bonds in any jurisdiction where such offer or sale is not permitted.

 

MiFID Target Market: The manufacturer target market (MiFID product governance) is eligible and professional counterparties only (all distribution channels).

 

UK MiFIR Target Market: The manufacturer target market (MiFIR product governance) is eligible and professional counterparties only (all distribution channels).

 

This document is for distribution only to persons who: (i) have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the “Financial Promotion Order”), (ii) are persons falling within Article 49(2)(a) to (d) (“high net worth companies, unincorporated associations etc.”) of the

 

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Financial Promotion Order, (iii) are outside the United Kingdom, or (iv) are persons to whom an invitation or inducement to engage in investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000, as amended (the “FSMA”)) in connection with the issue or sale of any bonds may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as “relevant persons”). This document is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this document relates is available only to relevant persons and will be engaged in only with relevant persons.

 

This document, the prospectus supplement and the base prospectus have been prepared on the basis that all offers of the bonds in any Member State of the European Economic Area will be made pursuant to an exemption under Regulation (EU) 2017/1129 (the “Prospectus Regulation”) from the requirement to produce or publish a prospectus. Accordingly, any person making or intending to make any offer within a Member State of the bonds may only do so in circumstances in which no obligation arises for EDC or any underwriter to produce or publish a prospectus pursuant to Article 3 of the Prospectus Regulation or supplement a prospectus pursuant to Article 23 of the Prospectus Regulation in relation to such offer. Neither this document nor the prospectus supplement nor the base prospectus has been approved as a prospectus by a competent authority in any Member State and accordingly none is a prospectus for the purposes of the Prospectus Regulation. If and to the extent that this announcement is communicated in, or the offer of the bonds to which it relates is made in, any Member State, this announcement and the offer are only addressed to and directed at persons in that Member State who are qualified investors as defined in the Prospectus Regulation and must not be acted upon by other persons in that relevant state.

 

NOTIFICATION UNDER SECTION 309B(1)(C) OF THE SECURITIES AND FUTURES ACT 2001 OF SINGAPORE: The Instruments are prescribed capital markets products (as defined in the Securities and Futures (Capital Markets Products) Regulations 2018) and Excluded Investment Products (as defined in MAS Notice SFA 04-N12: Notice on the Sale of Investment Products and MAS Notice FAA-N16: Notice on Recommendations on Investment Products)

 

* A securities rating is not a recommendation to buy, sell, or hold securities and may be subject to revision or withdrawal at any time.

 

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This communication is intended for the sole use of the person to whom it is provided by the Issuer.

 

The Issuer has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates. Before you invest, you should read the prospectus in that registration statement and other documents the Issuer has filed with the SEC for more complete information about the Issuer and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at http://www.sec.gov. Alternatively, the Issuer, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free at 1-(866) 864-7760 for BMO Capital Markets Corp., 1-(800) 638-2268 for Nomura International plc, 1-(800) 372-3930 for Scotia Capital (USA) Inc. and 1-(855) 495-9846 for TD Securities (USA) LLC.

 

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Dates Referenced Herein   and   Documents Incorporated by Reference

This ‘FWP’ Filing    Date    Other Filings
8/26/25
8/15/25
2/26/23
8/26/22
Filed on:8/17/22424B2
3/14/22EFFECT
 List all Filings 


1 Previous Filing that this Filing References

  As Of               Filer                 Filing    For·On·As Docs:Size             Issuer                      Filing Agent

 8/17/22  Export Development Canada/CN      424B2                  1:365K                                   Donnelley … Solutions/FA
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Filing Submission 0001193125-22-223313   –   Alternative Formats (Word / Rich Text, HTML, Plain Text, et al.)

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