Cades, Ontario pile into five year dollars

Cades and Ontario have taken advantage of the more buoyant mood in bond and equity markets this week to issue five year dollar bonds. Cades’ $1bn issue was only just oversubscribed but it achieved pricing of mid-swaps less 14bp and an 80% central bank take-up. Ontario is due to price its issue later today or tomorrow at around less 7bp. Read this week’s EuroWeek for news on how the deals fared and which borrowers are likely to be next into the market.