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First Nations bond deal breaks ground for Indigenous Canadians, sets stage for future business partnerships – Financial Post

It took three years to engineer a deal that turned First Nations communities into owners of a 49% in a Suncor storage facility, and the bond market played a crucial role

An unprecedented foray into the Canadian bond market by two small First Nations communities in northern Alberta may provide a template for future business partnerships involving Aboriginals.

It took three years to engineer a deal that turned Fort McKay and Mikisew Cree First Nations into owners of a 49 per cent stake in a Suncor Energy Inc. storage facility near the country’s oilsands region in Fort McMurray. The bond market was a crucial part of the solution, with investors buying $545 million (US$430 million) of 4.136 per cent bonds due in 2041 last month. It was the largest debt sale for an Indigenous group in Canada.

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