Investor relations


Calgary is one of Canada’s fastest growing cities. We’re committed to providing more value to Calgarians by reducing costs. One way we do this is through municipal bonds. They help us diversify our financing sources, with the possibility of lower interest rates for future capital projects. 

We closed our first municipal bond in the Canadian debt capital markets on March 15, 2024, followed by successfully reopening the bond on Feb 21, 2025 This secured a lower interest rate compared to the Government of Alberta, at that time. 

Quick facts

  • 100 corporate head office, most per capita of any Canadian city

  • 700 startups, many in tech

  • Highest GDP per capita of major Canadian cities

  • Third most diverse metropolitan area in Canada

  • Contact

    Investor relations and inquiries

    Email

Presentations

The City of Calgary investor presentation

NBF Case Study

CIBC 7th Annual Government Finance Conference

What's a municipal bond?

Municipal bonds are issued by local governments to finance capital projects that support public infrastructure and essential services, such as construction on roads, water systems and other community facilities. 

These bonds often carry lower rates which helps reduce overall financing costs. When investors, including individuals, banks, and financial institutions, purchase municipal bonds, they are lending funds to the issuer in exchange for periodic interest payments and the repayment of principal at maturity.

This payment structure is commonly referred to as ‘bullet debt’, meaning the principal is repaid in full at the end of the term, rather than periodic amortization. The length of the term is determined by the issuer based on project needs and financing strategy.

Looking ahead

The City's financing strategy as we continue to invest in infrastructure and services, remains committed to securing the most cost-effective financing available. With rates across funding sources remain competitive, we take a strategic approach evaluating all financing options to ensure long-term sustainability, value for investment, and alignment with operational goals. Regardless of market shifts, bonds continue to play an important role in our long-term financial planning and will continue to be a key consideration in our overall borrowing strategy.

Our strong fiscal management and superb credit ratings

We continue to have one of the best municipal credit ratings in Canada, making our debentures an attractive investment in both domestic and international markets. 

Our credit ratings are regularly assessed and affirmed by independent agencies. These agencies help measure performance and accountability through review by credible third parties. Our Annual Financial Reports follow Canadian accounting standards for local governments.

We use the rating services of:

  • Assigned Aa1 baseline credit assessment (BCA) and Aa1 long-term issuer rating.

    Outlook: stable

  • Affirmed AA (high) Issuer Rating and Long-Term Debt rating.

    Outlook: stable

  • Reaffirmed AA+ Issuer credit rating.

    Outlook: stable

Capital projects

Scotia Place - Calgary's event centre

Green line

Prairie Economic Gateway

 

You might be interested in

  • Annual Financial Reports

    The Annual Financial Report is part of The City’s commitment to provide effective governance, increased accountability, transparency, and a well-run City.

  • Highlights from the first quarter 2025

    From infrastructure advancements to public safety enhancements, we have made meaningful strides to ensure our city remains a vibrant, sustainable, and inclusive place to live.

  • 2023-2026 Service Plans and Budgets

    Our budgets were created to care for our community, striking a balance between the services you use every day and costs.

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