Northern Ontario Grow Bonds have hit the market for the very first time.
Grow Bonds were issued for sale by the province this morning and have a guaranteed annual interest rate of four percent, with a five year term.
Parliamentary Assistant for the Minister of Northern Development and Mines, Bill Mauro announced the rate this morning and says its pretty competitive.
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Mauro says they hope to sell out their initial bond offering of 20 million dollars.
Any funds derived from the sale will go towards low-interest loans for businesses in northern Ontario.
