MONTREAL, March 2 /CNW Telbec/ - CDP Financial, a wholly owned subsidiary
of the Caisse de dépôt et placement du Québec ("Caisse"), is pleased to
announce that the limit for its commercial paper program, comprised of
short-term notes, has been raised from $5 billion to $7 billion. It will
therefore continue to provide financing at advantageous rates to the Caisse's
investment groups seeking to use financial leverage to boost their investment
returns. CDP Financial issues debt securities in the markets at optimal rates
thanks to its high credit rating.
The commercial paper program will henceforth include a multi-currency
component making it possible to offer short-term notes in pounds sterling,
euros, U.S. and Canadian dollars, yen and Swiss francs. These notes will be
issued from London.
"Under this program, CDP Financial fulfills its mission to provide
support to the Caisse's investment groups," states Ghislain Parent, President,
CDP Financial and Caisse Executive Vice-President, Finance, Treasury and
Strategic Initiatives. "Thanks to the new multi-currency component, the
investment groups will be able to borrow in the currency of their choice to
finance their investments."
CDP Financial has been assigned the highest issuer credit ratings by
Standard and Poor's (S&P), Dominion Bond Rating Service (DBRS) and Moody's
Investors Service (Moody's). For its short-term notes program, CDP Financial
has received a rating of A-1 (high) from S&P, R-1 (high) from DBRS and P-1
from Moody's. CDP Financial's financing programs are guaranteed by the Caisse.
The Caisse de dépôt et placement du Québec is a financial institution
that manages funds primarily for public and private pension and insurance
plans. As at December 31, 2006, it held CA$143.5 billion of net assets. One of
the leading institutional fund managers in Canada, the Caisse invests in the
main financial markets as well as in private equity and real estate. For more
For further information:
For further information: and source: Annie Vallières, Information and
Media Relations, (514) 847-5493