Ontario makes first move as issuers look to end dollar hiatus

By Nathan Collins
08 May 2014

After weeks of limited issuance, the dollar market is primed to spark into life next week as investors clamour for a chance to use up accumulated cash. The European Investment Bank and Municipality Finance are tipped to launch deals, while Ontario stole a march on other issuers by mandating banks on Thursday afternoon for a benchmark.

“There hasn’t been much primary supply in dollars recently and paper isn’t really moving around in the secondary market either,” said a London-based head of SSA syndicate. “Investors haven’t had much chance to put cash to work, so the market can handle plenty of supply next week.”

The ...

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