Why we issue debt
To ensure sound diversification, in addition to equities and bonds, the CPP Investments fund includes many assets which are regarded as relatively “safe” – such as real estate or infrastructure. However, because of their lower individual risks, the inclusion of substantial amounts of these assets into the investment portfolio makes it hard to reach the higher overall levels of risk which we have targeted. We therefore issue a modest amount of debt to maintain our targeted level of risk, while still enjoying the benefits of portfolio diversification.
Investors should know…
CPP Investments is accountable to Parliament and to federal and provincial stewards. While we operate at arm’s length from government and we have an investment-only mandate, we are subject to rigorous accountability requirements, which are deeply ingrained in the CPPIB Act as well as in the policies and practices that govern our Board, our officers and our employees. Debt issued by CPP Investments is not guaranteed by governments.
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About our debt issuance program
Our Debt issuance offers high quality diversification to the AAA investor’s portfolio at a very attractive spread. Benchmark offerings along the entire maturity spectrum will provide the broadest range of investment options to our global investor base.
Long-Term Funding
- CPP Investments will look to issue liquid benchmarks and private placements in Calendar 2021
- CPP Investments may issue in US dollars, Euros, GBP, AUD and CAD
- CPP Investments may issue Green Bonds as part of the funding plan
- Additionally, CPP Investments has the ability to issue shorter dated, non-benchmark notes, in response to investor demand.
Index Inclusion
Term Debt issued by CPP Investments can be found in the following indices:
- Bloomberg Barclays Global Aggregate Index
- Bloomberg Barclays US Universal Index
- Bloomberg Barclays Euro Aggregate Index
- JP Morgan Global Aggregate Bond Index
- JP Morgan Aggregate Index Euro
- Bloomberg Barclays MSCI Green Bond Index
- BAML Green Bond Index
- S&P Green Bond Index
Rating reports
More about CPP Investments
- Our financial results
- Where we invest
- Our comparative advantages
- Actuary and Special Exam Reports
- Sustainability of the CPP
- Independence
- Accountability
- Board of Directors
- Policies
Related news articles
Relevant legislation and regulations
- Canada Pension Plan Regulations
- Actuarial Report on the Canada Pension Plan
- Canada Pension Plan Investment Board Act
- Canada Pension Plan Investment Board Regulations
Chief Actuary
Debt Security documents
Contact information
For more information about our debt issuance program, please contact James Logush, Managing Director, Head of Financing, Cash and Liquidity Group at jlogush@cppib.com or +1 416 479 5679.