Province launches European borrowing program the London Stock Exchange

The province has joined the London Stock Exchange.

This morning Premier Andrew Furey and Deputy Premier and Minister of Finance Siobhan Coady were in London to officially launch the province’s European borrowing program.

As a result, the province now has the option to issue bonds in the European capital market, in addition to its existing domestic Canadian market, to meet its borrowing requirements.

This will most likely lower the borrowing costs for the province.

Newfoundland and Labrador funds its borrowing requirements by issuing bonds in the capital markets.