SSAs breathe easy as Canada pulls $15bn at 15bp through Libor

03 Sep 2009

A $3bn five year global bond from Canada and a $5bn three year from the European Investment Bank this week sent a strong message that the SSA world remains buoyant despite a sharp rally in prices.

The two deals were priced at deep sub-Libor levels — Canada at less 15bp and the EIB at less 10bp — and both were heavily oversubscribed, giving confidence that investors still care for SSA product even though it has fallen out of Libor plus territory.

"Spreads have come in ...

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