An unprecedented foray into the bond market by two small First Nations communities in northern Alberta may provide a template for future business partnerships involving Indigenous Canadians. 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 of 4.136-per-cent bonds due in 2041 last month. It was the largest debt sale for an Indigenous group in Canada. Mistrust between the peoples who have inhabited the country for thousands of years and the newcomers who have developed businesses is another hurdle.

Source: thestar December 06, 2017 17:48 UTC