CPPIB leads Canadians to tricky euro market

By Burhan Khadbai
30 Mar 2020

CPPIB Capital hit the euro market on Monday, becoming the first SSA borrower not eligible for QE to access the market since the coronavirus outbreak shuttered the market. A fellow Canadian is set to follow suit.

The Province of Québec mandated BNP ParibasDeutsche Bank, HSBC, JP Morgan and NatWest Markets for a five year euro benchmark on Monday.

A head of SSA syndicate at one of Québec’s leads said the issuer’s five years are marked at around mid-swaps plus 13bp-15bp.

However, if the reception of CPPIB ...

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