BMO Capital Markets
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Demand for Quebec’s latest green bond was high with investors pouring into the C$500m ($376.2m) no-grow deal, leading to the books closing after only 20 minutes. -
Canadian professional services firm WSP Global has signed a sustainability-linked syndicated loan, as the lending structure that allows a proxy green financing for revolving credit facilities pushes into new sectors.
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The Province of Quebec has hired banks to lead a new Canadian dollar green bond — its first since the start of last year.
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The European Investment Bank and the Province of Quebec were well subscribed as they re-opened the dollar SSA market following the extended Lunar New Year holiday. Two more public sector borrowers will follow with dollar bonds on Wednesday, ahead of what is expected to be a busy month in the currency.
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The dollar SSA bond market, unfettered by geopolitical volatility, enjoyed an excellent week, although it is still lagging behind the euro market in terms of overall supply.
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KfW and Canada both launched dollar benchmarks on Wednesday, bringing a pair of highly subscribed and tight deals. Following their success, two Asian SSA issuers prepare to join the busy dollar market.
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KfW picked banks on Monday to lead the dollar market's first three year SSA deal of the year, while infrequent issuer Canada is looking to ride the recent wave of five year dollar supply after appointing banks to lead a new benchmark deal.
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A pair of supranationals opened the Maple market with sustainability bonds this week. The Canadian green market is “going through a growth phase” as more and more domestic investors show interest in the product, according to bankers.
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Two dollar benchmarks hit screens on Wednesday. While the issuers achieved good results, the volatility caused by Iran’s missile strike on US bases meant that the deals met with less hungry investors.
