Alberta shows 10 year dollar demand abundant but issuers hesitant

By Lewis McLellan
15 Jul 2020

The Province of Alberta hit the market for a 10 year deal, raising $2bn and impressing onlookers with a solid order book. Its peer Quebec will follow up on Thursday with a five year. But despite Alberta's success, further supply at the tenor may be limited.

Alberta's deal met with a warm reception. “There’s good demand for Canadians, because they pay a little extra compared to the top tier supras,” said an SSA DCM banker. “With yields so low, that extra spread is even more important.”

The choice of tenor also helped, since yield hungry ...

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