# EDGAR Filing Document

**Accession Number:** 0000276328
**File Stem:** 0001193125-25-140066
**Filing Date:** 2025-6
**Character Count:** 12099
**Document Hash:** 63d1eaf8ff679c6812455a3d9ec6d007
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-25-140066.hdr.sgml**: 20250612

**ACCESSION NUMBER**: 0001193125-25-140066

**CONFORMED SUBMISSION TYPE**: FWP

**PUBLIC DOCUMENT COUNT**: 1

**FILED AS OF DATE**: 20250612

**DATE AS OF CHANGE**: 20250612

**SUBJECT COMPANY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** EXPORT DEVELOPMENT CANADA/CN
- **CENTRAL INDEX KEY:** 0000276328
- **STANDARD INDUSTRIAL CLASSIFICATION:** FOREIGN GOVERNMENTS [8888]
- **ORGANIZATION NAME:** International Corp Fin
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 333-280499
- **FILM NUMBER:** 251043906

**BUSINESS ADDRESS:**
- **STREET 1:** CANADIAN EMBASSY
- **STREET 2:** 501 PENNSYLVANIA AVE
- **CITY:** WASHINGTON
- **STATE:** DC
- **ZIP:** 20001
- **BUSINESS PHONE:** 613-598-2500

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 150 SLATER STREET
- **CITY:** OTTAWA
- **PROVINCE COUNTRY:** A6
- **ZIP:** K1P 5M8

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** EXPORT DEVELOPMENT CANADA  /CN/
- **DATE OF NAME CHANGE:** 19941005
**FILED BY**: 

**COMPANY DATA:**
- **COMPANY CONFORMED NAME:** EXPORT DEVELOPMENT CANADA/CN
- **CENTRAL INDEX KEY:** 0000276328
- **STANDARD INDUSTRIAL CLASSIFICATION:** FOREIGN GOVERNMENTS [8888]
- **ORGANIZATION NAME:** International Corp Fin
- **EIN:** 000000000
- **FISCAL YEAR END:** 1231

**FILING VALUES:**
- **FORM TYPE:** FWP

**BUSINESS ADDRESS:**
- **STREET 1:** CANADIAN EMBASSY
- **STREET 2:** 501 PENNSYLVANIA AVE
- **CITY:** WASHINGTON
- **STATE:** DC
- **ZIP:** 20001
- **BUSINESS PHONE:** 613-598-2500

**MAIL ADDRESS:**
- **ADDRESS IS A NON US LOCATION:** YES
- **STREET 1:** 150 SLATER STREET
- **CITY:** OTTAWA
- **PROVINCE COUNTRY:** A6
- **ZIP:** K1P 5M8

**FORMER COMPANY:**
- **FORMER CONFORMED NAME:** EXPORT DEVELOPMENT CANADA  /CN/
- **DATE OF NAME CHANGE:** 19941005

**Issuer Free Writing Prospectus<br>Filed Pursuant to Rule 433(d)<br>Registration Statement No. 333-280499** 

**Export Development Canada / Exportation et développement Canada ("EDC")** 

U.S. $2,000,000,000 4.000% United States Dollar Bonds due 2030

Final Term Sheet

June 12, 2025

---

| | |
|:---|:---|
| Issuer: | Export Development Canada / Exportation et développement Canada |
| Title: | 4.000% United States Dollar Bonds due 2030 |
| Existing Long Term Issuer Ratings\*: | Aaa Stable (Moody's), AAA Stable (S&P) |
| Format: | SEC Registered Global |
| Size: | U.S. $2,000,000,000 |
| Trade Date: | June 12, 2025 |
| Settlement Date: | June 20, 2025 (T+5) |
| Maturity Date: | June 20, 2030 |
| Callable: | No, unless a change in the laws or regulations of Canada would require the payment by EDC of additional amounts on the bonds. |
| Interest Payment Dates: | Semi-annually on June 20 and December 20, commencing on December 20, 2025. Interest will accrue from June 20, 2025. |
| First Interest Payment Date: | December 20, 2025 |
| Benchmark Treasury: | UST 4.000% due May 31, 2030 |
| Benchmark Treasury Price and Yield: | 100-05 <sup>1</sup>⁄<sub>4</sub> / 3.963% Semi-annual |
| Spread to Benchmark Treasury: | +7.925 bps |
| Spread to SOFR Mid-Swap: | +41 bps |
| Yield to Maturity: | 4.042% |
| Coupon: | 4.000%, accruing from June 20, 2025 |
| Price: | 99.812% plus accrued interest, if any, from June 20, 2025 |
| Day Count: | 30/360 following unadjusted |
| Specified Currency: | United States Dollar ("U.S.$" or "$") |
| Minimum Denomination: | $5,000 and increments of $5,000 in excess thereof |
| Fees: | 0.125% |
| Listing: | Euro MTF Market of the Luxembourg Stock Exchange |
| Status: | The bonds will carry the full faith and credit of Canada. The payment of the principal of and interest on the bonds will constitute a charge on and be payable out of the Consolidated Revenue Fund of Canada. |

---

------

---

| | |
|:---|:---|
| Governing Law: | The laws of Ontario and the laws of Canada applicable therein. |
| Business Days: | London, New York, Toronto |
| Representatives: | BofA Securities, Inc.<br> CIBC World Markets Corp.<br> Nomura International plc<br> RBC Capital Markets, LLC<br> TD Securities (USA) LLC |
| Co-managers: | Barclays Bank PLC<br> BMO Capital Markets Corp.<br> BNP PARIBAS<br> Citigroup Global Markets Limited<br> Crédit Agricole Corporate and Investment Bank<br> Daiwa Capital Markets Europe Limited<br> Deutsche Bank AG, London Branch<br> Goldman Sachs International<br> HSBC Bank plc<br> J.P. Morgan Securities plc<br> Morgan Stanley & Co. International plc<br> National Bank of Canada Financial Inc.<br> NatWest Markets Plc<br> Scotia Capital (USA) Inc.<br> Wells Fargo Securities, LLC |
| Billing and Delivering: | CIBC World Markets Corp. |
| Settlement: | DTC, CDS, Euroclear, Clearstream |
| CUSIP Number: | 30216B KK7 |
| ISIN: | US30216BKK79 |
| Reference Document: | Prospectus Supplement, subject to completion, dated June 12, 2025 and Prospectus dated December 20, 2024.<br>https://www.sec.gov/Archives/edgar/data/276328/000119312525139686/d57222d424b2.htm |
| Legends: | **This document does not constitute or form part of any offer or invitation to sell these bonds and is not soliciting any offer to buy these bonds in any jurisdiction where such offer or sale is not permitted.**<br>**MiFID Target Market: The manufacturer target market (MiFID product governance) is eligible and professional counterparties only (all distribution channels).**<br>**UK MiFIR Target Market: The manufacturer target market (MiFIR product governance) is eligible and professional counterparties only (all distribution channels).** |

---

------

<br> **This document is for distribution only to persons who: (i) have professional experience in matters relating to investments falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005, as amended (the "Financial Promotion Order"), (ii) are persons falling within Article 49(2)(a) to (d) ("high net worth companies, unincorporated associations etc.") of the Financial Promotion Order, (iii) are outside the United Kingdom, or (iv) are persons to whom an invitation or inducement to engage in investment activity (within the meaning of section 21 of the Financial Services and Markets Act 2000, as amended (the "FSMA")) in connection with the issue or sale of any bonds may otherwise lawfully be communicated or caused to be communicated (all such persons together being referred to as "relevant persons"). This document is directed only at relevant persons and must not be acted on or relied on by persons who are not relevant persons. Any investment or investment activity to which this document relates is available only to relevant persons and will be engaged in only with relevant persons.**<br>**This document, the prospectus supplement and the base prospectus have been prepared on the basis that all offers of the bonds in the United Kingdom (the "UK") will be made pursuant to an exemption under Regulation (EU) 2017/1129 as it forms part of UK domestic law by virtue of the European Union (Withdrawal) Act 2018 (the "UK Prospectus Regulation") and the FSMA from the requirement to produce or publish a prospectus. Accordingly, any person making or intending to make any offer within the UK of the bonds may only do so in circumstances in which no obligation arises for EDC or any underwriter to produce or publish a prospectus pursuant to the FSMA or supplement a prospectus pursuant to Article 23 of the UK Prospectus Regulation in relation to such offer. Neither EDC nor any underwriter has authorized, nor do they authorize, the making of any offer of the bonds to any legal entity which is not a qualified investor as defined in the UK Prospectus Regulation. Neither this document nor the prospectus supplement nor the base prospectus has been approved as a prospectus by a competent authority in the UK and accordingly none is a prospectus for the purposes of the UK Prospectus Regulation.**<br>**This document, the prospectus supplement and the base prospectus have been prepared on the basis that all offers of the bonds in any Member State of the European Economic Area will be made pursuant to an exemption under Regulation (EU) 2017/1129 (the "Prospectus Regulation") from the requirement to produce or publish a prospectus. Accordingly, any person making or intending to make any offer within a Member State of the bonds may only do so in circumstances in which no obligation arises for EDC or any underwriter to produce or publish a prospectus pursuant to Article 3 of the Prospectus Regulation or supplement a prospectus pursuant to Article 23 of the Prospectus**<br>

------

 **Regulation in relation to such offer. Neither EDC nor any underwriter has authorized, nor do they authorize, the making of any offer of the bonds to any legal entity which is not a qualified investor as defined in the Prospectus Regulation. Neither this document nor the prospectus supplement nor the base prospectus has been approved as a prospectus by a competent authority in any Member State and accordingly none is a prospectus for the purposes of the Prospectus Regulation.**<br>**If and to the extent that this announcement is communicated in, or the offer of the bonds to which it relates is made in, the UK or any Member State, this announcement and the offer are only addressed to and directed at persons in the UK or that Member State who are qualified investors as defined in the UK Prospectus Regulation or the Prospectus Regulation, as applicable and must not be acted upon by other persons in the UK or that relevant Member State.**<br>**Neither EDC nor any underwriter has authorized, nor do they authorize, the making of any offer of the bonds through any financial intermediary, other than offers made by the relevant underwriter which constitute the final placement of the bonds contemplated in the prospectus supplement.**<br>**\* A securities rating is not a recommendation to buy, sell, or hold securities and may be subject to revision or withdrawal at any time.**<br>**We expect that delivery of the bonds will be made against payment thereof on or about June 20, 2025, which will be the fifth business day following the pricing of the bonds (such settlement cycle being herein referred to as "T+5"). Under Rule 15c6-1 under the Securities Exchange Act, trades in the secondary market generally are required to settle in one business day, unless the parties to any such trade expressly agree otherwise. Accordingly, purchasers who wish to trade the bonds on the day of pricing will be required, by virtue of the fact that the bonds initially will settle in T+5 to specify an alternate settlement cycle at the time of any such trade to prevent a failed settlement. Purchasers of the bonds who wish to trade the bonds prior to closing should consult their own advisor.**<br>**This communication is intended for the sole use of the person to whom it is provided by EDC.**<br>**EDC has filed a registration statement (including a prospectus) with the SEC for the offering to which this communication relates.**<br>

------

<br> **Before you invest, you should read the prospectus in that registration statement and other documents EDC has filed with the SEC for more complete information about EDC and this offering. You may get these documents for free by visiting EDGAR on the SEC Web site at http://www.sec.gov. Alternatively, EDC, any underwriter or any dealer participating in the offering will arrange to send you the prospectus if you request it by calling toll-free at 1-800-294-1322 for BofA Securities, Inc., 1-800-282-0822 for CIBC World Markets Corp., 1-800-638-2268 for Nomura International plc, 1-866-375-6829 for RBC Capital Markets, LLC and 1-855-495-9846 for TD Securities (USA) LLC.**<br>**Any disclaimers or other notices that may appear below are not applicable to this communication and should be disregarded. Such disclaimers or other notices were automatically generated as a result of this communication being sent via Bloomberg or another email system.**<br>