News Release
May 4, 2020

Following 2019 success, the City of Toronto is reopening one of its recently settled debenture offerings for an additional $200 million. The City issues long-term debt to help fund a variety of key capital projects.

This $200 million bond issue has a fixed coupon of 2.65 per cent and a maturity of November 9, 2029. This reissuance brings the bond’s outstanding amount to $600 million.

Investors paid a price of $108.92 to yield 1.631 per cent, which is the lowest borrowing cost the City of Toronto has ever secured.

These bonds will help fund critical capital projects for a number of City divisions, including:
• Toronto Transit Commission
• Toronto Public Health
• Long-Term Care Homes
• Solid Waste Management Services
• Toronto Public Library
• Toronto’s Sustainable Energy Plan and many others.

Toronto has one of the largest municipal borrowing programs in Canada. It is a regular issuer in the public Canadian debt market, with several sinking fund debentures each year.

Debenture issues are initially distributed and traded by several Canadian investment dealers. Retail investors can contact their financial institutions to inquire about investing in the City of Toronto’s debentures.

More information about the City’s debenture programs can be found at


“Expressions of interest are more than double for the $200 million being sold. The ability to launch a successful deal under these challenging market conditions is a positive indication how investors feel about the City of Toronto.”
– Mayor John Tory

“The low cost of borrowing will help us to finance more key capital projects and grow our economy. It is also an important tool that will help the City deliver tangible and sustainable outcomes.”
– Councillor Gary Crawford, Budget Committee Chair, Scarborough-Southwest (Ward 20)

Toronto is home to more than 2.9 million people whose diversity and experiences make this great city Canada’s leading economic engine and one of the world’s most diverse and livable cities. As the fourth largest city in North America, Toronto is a global leader in technology, finance, film, music, culture and innovation, and consistently places at the top of international rankings due to investments championed by its government, residents and businesses. For more information visit or follow us on Twitter at, on Instagram at or on Facebook at

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