Finance
September 19, 2016

Supporting Responsible Fiscal Planning

Provincial Government Launches Investor Relations Website

The Department of Finance today launched a website aimed at better informing and establishing relationships with potential investors. This website includes information for potential investors in an effort to support the province’s borrowing requirements, as well as providing transparent information about the province’s borrowings.

“The investor relations website provides investors and members of the financial community with up-to-date and detailed data on the state of the provinces finances. This is the first time this has been done in this province and we are confident that it will provide transparent and up-to-date information to our investors and to the general public. Despite our current fiscal challenges the long-term potential and prospects for Newfoundland and Labrador remain strong.”
- The Honourable Cathy Bennett, Minister of Finance and President of Treasury Board

In addition to the province’s demographic, fiscal history and economic data, the investor relations website – investorrelations.gov.nl.ca – includes the following information:

• The province’s borrowing program;
• A bond database;
• Debt portfolio and history;
• Financial reports for the Provincial Government and Nalcor Energy; and
• Information on the province’s credit ratings.

Following a week of detailed meetings with investors and the province’s banking syndicate, Minister Bennett said today she feels confident in the province’s ability to meet borrowing targets and to keep finances on track with the seven-year plan to return the provincial treasury to surplus.

Our government is exploring all options that may result in lowering borrowing costs for the province. It is important that the province maintain good relations with potential investors, both in Canada and the United States, and explore options to determine what is in the best interest of the province. Having met with 12 banks and nine investments firms last week, it became clear to me that these companies are willing to work with us and appreciate the difficult circumstances that the Government of Newfoundland and Labrador is facing. The investment community is sympathetic to the set of circumstances that our government has inherited.”
- Minister Bennett

The Provincial Government will be posting, on a monthly basis, a chart which includes the actual price of oil as compared to what was projected in Budget 2016. This chart is available at www.gov.nl.ca/fin.

QUICK FACTS

• The Provincial Government has launched a website aimed at informing and establishing relationships with potential investors.
• The investor relations website can be found at www.InvestorRelations.gov.nl.ca. The website will share critical information and provide an online presence to potential investors in an effort to support the province’s borrowing requirements.
• The Government of Newfoundland and Labrador is exploring all options that may result in lowering borrowing costs for the Province. Minister Bennett met with 12 banks and 9 investments firms last week.

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Media contact:

Tansy Mundon Director of Communications Department of Finance 709-729-6830, 693-1865 tansymundon@gov.nl.ca

2016 09 19                              4:10 p.m.