BNS hits dollar covereds as Canadians ramp up retained repo supply

By Bill Thornhill
25 Mar 2020

Bank of Nova Scotia issued its first dollar covered bond benchmark since 2016 on Wednesday. The deal follows a series of retained Canadian dollar covered bonds that were pledged to the Bank of Canada after it recently broadened repo eligibility to include the asset class.

Bank of Nova Scotia opened books during the Asian trading session for a three year dollar benchmark with guidance of 100bp area over mid-swaps and, approaching 11am London time, it had amassed a $790m order book. 

A few hours later a $900m deal was announced at 100bp with demand ...

Please take a trial or subscribe to access this content.

Contact our subscriptions team to discuss your access:

Or sign up for a trial to gain full access to the entire site for a limited period.

Free Trial

Corporate access

To discuss GlobalCapital access for your entire department or company please contact our subscriptions sales team at: or find out more online here.