McGuinty Government Announces New Higher Rates For 2007 Ontario Savings Bonds

    Bonds Staying Competitive With Similar Investments

    TORONTO, June 13 /CNW/ - Finance Minister Greg Sorbara announced
increased interest rates for the 2007 issue of Ontario Savings Bonds (OSBs) to
keep the bonds competitive in Ontario's investment market.
    "OSBs are a popular and safe investment that provides the flexibility to
choose from among three types of bonds, Sorbara said. "By raising our rates,
we are continuing to ensure that Ontarians have a strong, competitive and
reliable investment choice that contributes to a better Ontario."
    The new interest rates are:

    -   For the five-year Step-Up Bond - 4.00 per cent this year, 4.20 per
        cent in the second year, 4.40 per cent in the third year, 4.60 per
        cent in the fourth year and 4.95 per cent in the final year
    -   For the three-year Fixed-Rate Bond - 4.75 per cent, and
    -   For the seven-year Variable-Rate Bond - 4.25 per cent for the first
        six months.

    The interest rate for the next six months for the 2001-2006 Variable-Rate
Bonds was also set today at 4.25 per cent.
    2007 OSBs that have already been purchased will automatically be given
the new higher interest rates.
    This year, the 2000 Variable-Rate, 2002 Step-Up and the 2004 Fixed-Rate
Bonds are maturing and purchasers can extend their benefits by reinvesting in
2007 OSBs.
    "When people buy OSBs, they are investing in the prosperity of their
province," Sorbara said. "It's a reliable investment that strengthens our
economy and helps build a better quality of life in Ontario."
    OSBs are available at banks, trust companies, credit unions, caisses
populaires and through investment dealers.
    Available until June 21, OSBs are backed 100 per cent by the Government
of Ontario and they are sold in amounts from as low as $100 up to $500,000.

    Disponible en français

           For more information call 1-888-212-BOND (2663) or visit

For further information:

For further information: Michael Arbour, Minister's Office, (416)
325-4138; Scott Blodgett, Communications Branch, (416) 325-0324

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