Maples roar back into life with JPM, NatGrid

13 Sep 2012

Jumbo benchmarks by JP Morgan and National Grid revived the Maple market this week, highlighting the sector’s potential now that Canadian buyers are more comfortable buying non-domestic names. International borrowers that have roadshowed in Canada this year could soon follow, writes Stefania Palma.

In the face of overwhelming demand, both deals were increased well beyond their original targets. JP Morgan printed a C$1.25bn ($1.28bn) five year benchmark that had been announced at just C$500m, while National Grid issued a C$750m five year, the intended size of which had been C$400m. Books ...

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