Debt Issuance
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.
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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.
Long-Term Funding
- CPP Investments may look to issue benchmarks and private placements across AUD, CAD, EUR, GBP and USD
Index Inclusion
Term Debt issued by CPP Investments can be found in the following indices:
- EUR: Bloomberg Indices, CITI (FTSE), ICE BofA, Morningstar, NASDAQ Global Market
- USD: Bloomberg Indices, ICE BofA, Morningstar
- GBP: Bloomberg Indices, iBoxx, ICE BofA, Morningstar, NASDAQ Global Market
- CAD: FTSE, Bloomberg Indices, ICE BofA, Morningstar, NASDAQ Global Market
- AUD: ICE BofA, Bloomberg Aus Bond Composite Index
- Green Bonds: Bloomberg / MSCI, JP Morgan, Solactive
Rating reports
More about CPP Investments
Relevant legislation and regulations
- Canada Pension Plan Regulations
- Canada Pension Plan Investment Board Act
- Canada Pension Plan Investment Board Regulations
Chief Actuary
Debt Security documents
Green Bond Program
- Deloitte Third Party Review – Green Bond Register 2025
- Green Bond Framework 2024
- Green Bond Register
- S&P Second Party Opinion
- Green Bond Impact Report 2024
The following Reports on this page are for historical reference only and are current as of their respective dates. They may be superseded by more recent information. We do not update past Reports or any historical information, whether because of new information, future events, or otherwise, unless required by law.
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