18-K 1 form18k.txt ANNUAL REPORT FORM 18-K For Foreign Governments and Political Subdivisions Thereof SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 ANNUAL REPORT of PROVINCE OF NEW BRUNSWICK CANADA (Name of Registrant) Date of end of last fiscal year: March 31, 2002 SECURITIES REGISTERED * (As of close of fiscal year) ================================================================================ Amounts as to Names of Title of issue which registration exchanges on is effective which registered ---------------------- ---------------------------- ------------------------ N/A N/A N/A ================================================================================ Names and addresses of persons authorized to receive notices and communications from the Securities and Exchange Commission: HON. PAMELA WALLIN Canadian Consulate General 1251 Avenue of the Americas New York, NY 10020 or BRIAN SCHUMACHER DAVID MURCHISON Canadian Consulate General Canadian Consulate General 1251 Avenue of the Americas 1251 Avenue of the Americas New York, NY 10020 New York, NY 10020 Copies to: JOHN W. WHITE BRYAN MACDONALD Cravath, Swaine & Moore Assistant Deputy Minister Worldwide Plaza Treasury Division 825 Eighth Avenue Province of New Brunswick New York, NY 10019 P.O. Box 6000 Fredericton, NB, Canada E3B 5H1 * The Registrant is filing this annual report on a voluntary basis. 2 The information set forth below is to be furnished: 1. In respect of each issue of securities of the registrant registered, a brief statement as to: (a) The general effect of any material modifications, not previously reported, on the rights of the holders of such securities. None. (b) The title and the material provisions of any law, decree or administrative action, not previously reported, by reason of which the security is not being serviced in accordance with the terms thereof. None. (c) The circumstances of any other failure, not previously reported, to pay principal, interest, or any sinking fund or amortization installment. None. 2. A statement as of the close of the last fiscal year of the registrant giving the total outstanding of: (a) Internal funded debt of the registrant. (Total to be stated in the currency of the registrant. If any internal funded debt is payable in a foreign currency, it should not be included under this paragraph (a), but under paragraph (b) of this item). Reference is made to page 29 of Exhibit (d) hereto. (b) External funded debt of the registrant. (Totals to be stated in the respective currencies in which payable. No statement needs to be furnished as to intergovernmental debt.) Reference is made to page 29 of Exhibit (d) hereto. 3. A statement giving the title, date of issue, date of maturity, interest rate and amount outstanding, together with the currency or currencies in which payable, of each issue of funded debt of the registrant outstanding as of the close of the last fiscal year of the registrant. Reference is made to pages 48 and 49 of Exhibit (d) hereto. 4. (a) As to each issue of securities of the registrant which is registered, there should be furnished a break-down of the total amount outstanding, as shown in Item 3, into the following: (1) Total amount held by or for the account of the registrant. As at March 31, 2002, the total amount held by or for the account of the registrant was as follows:
Date of Maturity Interest Rate (%) Series Amount Outstanding Amount held in Sinking Fund Date Issued ---------------- ----------------- ------ ------------------ --------------------------- ----------- 1 Oct 2002 7 1/8 EL US$257,000,000 US$17,630,000 Oct 1992 Dec 1993 29 June 2004 7 5/8 EY 200,000,000 17,000,000 June 1994 20 June 2005 6 1/2 FH 150,000,000 49,455,000 June 1995 15 Feb 2013 7 5/8 EO 200,000,000 12,400,000 Feb 1993 15 Aug 2013 6 3/4 ET 200,000,000 53,567,000 Sept 1993 3 Mar 2018 9 1/2 DM 139,005,000 -- Mar 1988 15 May 2020 9 3/4 DU 200,000,000 5,000,000 May 1990 1 May 2022 8 3/4 EI 200,000,000 -- May 1992
3 (2) Total estimated amount held by nationals of the registrant (or if registrant is other than a national government by the nationals of its national government); this estimate need be furnished only if it is practicable to do so. Not practicable to furnish. (3) Total amount otherwise outstanding.
Amount Otherwise Date of Maturity Interest Rate (%) Series Outstanding Date Issued ---------------- ----------------- ------ ----------- ----------- 1 Oct 2002 7 1/8 EL US$239,370,000 Oct 1992 Dec 1993 29 June 2004 7 5/8 EY 183,000,000 June 1994 20 June 2005 6 1/2 FH 100,545,000 June 1995 15 Feb 2013 7 5/8 EO 187,600,000 Feb 1993 15 Aug 2013 6 3/4 ET 146,433,000 Sept 1993 3 Mar 2018 9 1/2 DM 139,005,000 Mar 1988 15 May 2020 9 3/4 DU 195,000,000 May 1990 1 May 2022 8 3/4 EI 200,000,000 May 1992
(b) If a substantial amount is set forth in answer to paragraph (a)(1) above, describe briefly the method employed by the registrant to reacquire such securities. The Province of New Brunswick sinking fund is a general investment type fund. The Provincial Loans Act and in some cases the terms and conditions of the debenture issue specify the minimum rate at which sinking fund installments will be made. Purchases of bonds into the fund are generally discretionary. Many of the bonds purchased into the fund are New Brunswick or New Brunswick guaranteed bonds. The Province is also permitted to buy debt instruments issued or guaranteed by the Government of Canada or any province of Canada and other debt instruments defined by the Provincial Loans Act. 5. A statement as of the close of the last fiscal year of the registrant giving the estimated total of: (a) Internal floating indebtedness of the registrant. (Total to be stated in the currency of the registrant.) Reference is made to pages 30, 48 and 49 of Exhibit (d) hereto. (b) External floating indebtedness of the registrant. (Total to be stated in the respective currencies in which payable.) Reference is made to page 48 of Exhibit (d) hereto. 6. Statements of the receipts, classified by source, and of the expenditures, classified by purpose, of the registrant for each fiscal year of the registrant ended since the close of the latest fiscal year for which such information was previously reported. These statements should be so itemized as to be reasonably informative and should cover both ordinary and extraordinary receipts and expenditures; there should be indicated separately, if practicable, the amount of receipts pledged or otherwise specifically allocated to any issue registered, indicating the issue. Reference is made to pages 18 to 26 and 45 to 47 of Exhibit (d) hereto. 7. (a) If any foreign exchange control, not previously reported, has been established by the registrant (or if the registrant is other than a national government, by its national government), briefly describe such foreign exchange control. None. 4 (b) If any foreign exchange control previously reported has been discontinued or materially modified, briefly describe the effect of any such action, not previously reported. Not applicable. This annual report comprises: (a) Pages numbered 1 to 5 consecutively. (b) The following exhibits: (d) Current Province of New Brunswick Description. (e) Audited Financial Statements of the Province of New Brunswick for the fiscal year ended March 31, 2002, as published in the Public Accounts. (f) Consent of the Auditor General of the Province of New Brunswick. (g) Audited Financial Statements of New Brunswick Power Corporation for the fiscal year ended March 31, 2002, as published in its annual report. (h) Consent of Deloitte & Touche. This annual report is filed subject to the Instructions for Form 18-K for Foreign Governments and Political Subdivisions Thereof. 5 SIGNATURE Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this annual report to be signed on its behalf by the undersigned, thereunto duly authorized, at Fredericton, Canada on the 31st day of December, 2002. Province of New Brunswick By: /s/ Bryan MacDonald ----------------------------- Bryan MacDonald Assistant Deputy Minister Treasury Division Department of Finance 6 EXHIBIT INDEX (d) Current Province of New Brunswick Description. (e) Audited Financial Statements of the Province of New Brunswick for the fiscal year ended March 31, 2002 as published in the Public Accounts. (f) Consent of the Auditor General of the Province of New Brunswick. (g) Audited Financial Statements of New Brunswick Power Corporation for the fiscal year ended March 31, 2002 as published in its annual report. (h) Consent of Deloitte & Touche.