# EDGAR Filing Document

**Accession Number:** 0000276328
**File Stem:** 0001193125-23-034991
**Filing Date:** 2023-2
**Character Count:** 9389
**Document Hash:** 843b275c4fefda1915262c243aea179e
**Contains OCR:** False
**Source Format:** 

## Filing Content

## Filing Summary
**0001193125-23-034991.hdr.sgml**: 20230213

**ACCESSION NUMBER**: 0001193125-23-034991

**CONFORMED SUBMISSION TYPE**: 18-K/A

**PUBLIC DOCUMENT COUNT**: 4

**CONFORMED PERIOD OF REPORT**: 20211231

**FILED AS OF DATE**: 20230213

**DATE AS OF CHANGE**: 20230213

**FILER**: 

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

**FILING VALUES:**
- **FORM TYPE:** 18-K/A
- **SEC ACT:** 1934 Act
- **SEC FILE NUMBER:** 002-62211
- **FILM NUMBER:** 23615921

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

**MAIL ADDRESS:**
- **STREET 1:** 150 SLATER STREET
- **CITY:** OTTAWA
- **STATE:** A6
- **ZIP:** K1A 1K3

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

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**SECURITIES AND EXCHANGE COMMISSION** 

**Washington, D.C.** 

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**FORM 18-K/A**

**AMENDMENT NO. 3** 

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**For Foreign Governments and Political Subdivisions Thereof** 

**ANNUAL REPORT** 

**of** 

**EXPORT DEVELOPMENT CANADA** 

**(An agent of His Majesty in right of Canada)** 

**(Name of Registrant)** 

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**Date of end of last fiscal year: December 31, 2021** 

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**SECURITIES REGISTERED\*** 

**(As of close of fiscal year)** 

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| | | |
|:---|:---|:---|
| **Title of issue** | **Amounts as to**<br> **which registration**<br> **is effective** | **Names of**<br> **exchanges on**<br> **which registered** |
| N/A | N/A | N/A |

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**Names and address of persons authorized to receive notices** 

**and communications from the Securities and Exchange Commission:** 

**PAUL HUYNH** 

**Counsellor (Finance)** 

**Canadian Embassy** 

**501 Pennsylvania Avenue, N.W.** 

**Washington, D.C. 20001** 

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***Copies to:***

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| | |
|:---|:---|
| **PAUL E. DENARO**<br> **Milbank LLP**<br> **55 Hudson Yards**<br> **New York, New York 10001** | **SUSAN LOVE**<br> **Vice President and Treasurer**<br> **Export Development Canada**<br> **150 Slater Street**<br> **Ottawa, Ontario, Canada K1A 1K3** |

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*\** *The Registrant is filing this Amendment No. 3 to its annual report on a voluntary basis.* 

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This amendment to the Annual Report on Form 18-K of Export Development Canada ("EDC") for the year ended December 31, 2021 is being filed to include as an exhibit to such Form 18-K: the Opinion and Consent of Legal Counsel of EDC, which was prepared in connection with the offering of U.S.$3,500,000,000 3.875% United States Dollar bonds due February 14, 2028 (the "Bonds") described in EDC's Prospectus Supplement dated February 7, 2023 (the "Prospectus Supplement") to EDC's Prospectus dated March 14, 2022 (the "Basic Prospectus").

That portion of the Bonds offered by the Prospectus Supplement and the Basic Prospectus sold or to be sold in the United States or in circumstances where registration of the Bonds is required has been registered under Registration Statement No. 333-261836. Such portion is not expected to exceed an aggregate principal amount of U.S.$909,200,000.00. Following the completion of the offering of the Bonds offered by the Prospectus Supplement and the Basic Prospectus, U.S.$16,025,700,000.00 aggregate principal amount of Bonds will remain available for offer and sale under Registration Statement No. 333-261836.

The exhibits to EDC's Annual Report on Form 18-K for the year ended December 31, 2021, as hereby amended, are as follows:

23.1 Opinion and Consent of Legal Counsel of EDC.

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It is estimated that the expenses of EDC in connection with the sale of the Bonds will be as follows:

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| | |
|:---|:---|
|  Filing Fee<sup>(1)</sup> | 113195.4 |
|  Legal | $40000.0 |
|  Miscellaneous Expenses | $21804.6 |
|  | 175000.0 |

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(1) Calculated based on a filing fee of U.S.$124.50 per U.S.$1,000,000, which was the filing fee then in effect and
paid at the time of the original registration statement covering these securities.

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SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this amendment number two to its annual report to be signed on its behalf by the undersigned, thereunto duly authorized, at Ottawa, Canada, on the 13th day of February.

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| | |
|:---|:---|
| Export Development Canada | Export Development Canada |
| By: | /s/ Susan Love |
| Name: | Susan Love |
| Title: | Vice President and Treasurer |

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EXHIBIT INDEX

23.1 Opinion and Consent of Legal Counsel of EDC.

## Exhibit 23.1

**Exhibit 23.1**![LOGO](g430296g0211025645148.jpg)

February 13, 2023

Export Development Canada

150 Slater Street

Ottawa, Ontario

K1A 1K3

Dear Sirs/Madams:

In connection with the issue and sale of U.S. $3,500,000,000 3.875% United States Dollar Bonds due February 14, 2028 (the "**Bonds**") of Export Development Canada ("**EDC**") to be sold pursuant to an Underwriting Agreement dated as of February 7, 2023 as more particularly described in the Prospectus Supplement dated February 7, 2023 to the Basic Prospectus dated March 14, 2022 (the "**Prospectus Supplement**"), I have been asked, as Lead Legal Counsel to EDC, to furnish you with an opinion in respect of the legality of the Bonds.

I have made or caused to be made such investigations and examinations of such legislation and proceedings and have reviewed or caused to be reviewed such documents relating to the issue of the Bonds as I have considered necessary for the purposes of this opinion.

The Bonds will be issued pursuant to the following authority:

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(a) the Export Development Act, R.S.C. 1985, Chap. E-20, as amended (the
" **Act** ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(b) the Financial Administration Act, R.S.C. 1985, Chap. F-11, as amended;

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(c) the Standing Resolution Authorizing The Issuance of Debt Instruments, adopted by the Board of Directors of EDC
on May 12, 2022, which became effective on May 12, 2022 (the "**Standing Resolution** ");

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(d) the approval dated as of February 7, 2023 of the Senior Vice-President and Chief Financial Officer of EDC
whereby, pursuant to the Standing Resolution and the powers vested in him by the Act, he approved the principal amount, currency, term and pricing mechanism of the Bonds; and

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;(e) a letter received from the Minister of Finance, to the President of EDC, in which the Minister of Finance
approved the issue and sale by EDC of the Bonds pursuant to Subsection 127(3) of the Financial Administration Act.

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| | |
|:---|:---|
| 150 Slater, Ottawa, ON Canada K1A 1K3 | ![LOGO](g430296g0211025645273.jpg) |
| Tel. 613-598-2500 Fax. 613-237-2690 www.edc.ca | ![LOGO](g430296g0211025645273.jpg) |

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Based upon the foregoing and relying in particular on statutes and documents set out in full above I am of the following opinion:

Majesty in right of Canada ()"**Canada**") with full power and authority to conduct its business as described in the Prospectus Supplement; pursuant to the provisions of the Financial Administration Act, EDC is named as a Crown
corporation.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;2. The Bonds have been duly authorized by all necessary corporate action of EDC and, subject at the time of issue
of the Bonds to the approval of the Minister of Finance continuing in full force and effect and to compliance with the limitation on the aggregate borrowing of EDC contained in Section 14 of the Act and in the Standing Resolution, upon being
duly signed personally or in facsimile by the duly appointed officers of EDC, and upon being duly authenticated and issued against payment therefor, the Bonds will constitute legal, valid and binding direct, unconditional and general obligations of
EDC and, as such, of Canada enforceable in accordance with their terms, all irrespective of any reconstruction, reorganization, amalgamation, merger, liquidation, dissolution or winding up of EDC or any transfer, sale or other disposition of all or
substantially all of the assets of EDC.

&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;&nbsp;3. The Bonds, when duly executed, authenticated, and issued against payment, subject at the time of issue as set
forth above, will constitute securities issued on behalf of Canada with the authority of Parliament and as such the payment of the principal thereof and interest thereon will be a charge on and will be payable out of the Consolidated Revenue Fund of
Canada.

I hereby consent to the inclusion of this opinion letter as an exhibit to Amendment No. 3 to EDC's Annual Report on Form 18-K for the year ended December 31, 2021 and to the use of the reference to the legal counsel for EDC under the heading "Legal Opinions" in the Prospectus Supplement.

Yours truly,

EXPORT DEVELOPMENT CANADA

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| |
|:---|
| /s/ Joseph Weir |
| Joseph Weir<br> as Lead Legal Counsel<br> for Export Development Canada<br> and without personal responsibility |

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