As part of its investment activities, CDPQ periodically issues debt securities.
The purpose of our financing programs is to contribute to the construction of a diversified and quality portfolio that benefits our depositors. They offer investors from around the world advantageous investment conditions that are among the safest available.
CDPQ: Leading global asset manager
- We rank among the largest institutional investors in the world, with CAD 392 billion in net assets as at June 30, 2022.
- We invest in the major financial markets, as well as in private equity, infrastructure, real estate and private credit, around the world.
- We take a business-owner approach and focus on the long term.
CDPQ at a glance
What sets us apart
- Clear mission and distinct status
We manage our depositors’ investments by seeking optimal returns without being responsible for their actuarial obligations.
- Independence and strong governance framework
We are legally, operationally and financially independent from the government, and we adhere to the highest standards of governance.
- Large pool of diversified assets
Our portfolio includes quality assets in over 65 countries and across investment classes, providing our creditors with sizeable protection.
- High-level expertise
A large majority of our investments are managed internally by our teams of experts strategically located in ten countries.
Our financing programs draw on CDPQ’s strong credit ratings to optimize our investment strategies while offering investors access to a high-quality Canadian issuer.
Since 2003, the main credit rating agencies have granted us their highest ratings.*
|Agency||Short-term rating||Long-term rating||Outlook||Recent reports|
|DBRS Ltd.||R-1 (high)||AAA||Stable||Download the PDF|
|Fitch Ratings Inc.**||F1+||AAA||Stable||Download the PDF|
|Moody’s Investors Service Inc.||Prime-1||Aaa||Stable||Download the PDF|
|S&P Global Ratings Inc.||A-1+
|AAA||Stable||Download the PDF|
* A credit rating in no way constitutes a recommendation to buy, sell or hold securities, and may be lowered or removed at any time by the credit rating agency.
** Fitch Ratings Inc. began providing a rating as of February 2019.
Our financing programs
As a global issuer, we can offer investors quality debt securities that meet their investment objectives.
We use debt programs based on our short- and long-term financing needs. As at December 31, 2021, we had USD 20.1 billion outstanding, broken down as follows:
Medium to long-term debt program
Maturity profile of issued securitiesTotal outstanding notes: USD 12.4 billion (market value)
Note: Presented at par value (in local currency where issued).
Short-term debt programs
Total outstanding notes: USD 7.7 billion (market value)
The completion of our recent issuances attests to the trust that global investors with various investment horizons place in CDPQ.
Issuance of USD 1.5 billion with 5-year maturity
CADEPO 1.750% 02/2027
Issuance of CAD 1.25 billion with 5-year maturity
CADEPO 1.500% 10/2026
Issuance of USD 2.5 billion with 5-year maturity
CADEPO 0.875% 06/2025
Issuance of USD 2 billion with 3-year maturity
CADEPO 1.000% 04/2023
Issuance of USD 1 billion green bond with 5-year maturity
CADEPO 1% 05/2026