HSBC Canada offers value but silence speaks to absence of volume
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Covered Bonds

HSBC Canada offers value but silence speaks to absence of volume

HSBC

HSBC Canada opened books on Tuesday for its first covered bond and followed in the same three year maturity, and with the same starting spread, as DBS Bank's issue on Monday. But, after several hours, when the spread was fixed at the initial level, lead managers failed to update investors on the order book size, leading some to question how well the deal was going.

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