Canada

Swiss insurer Helvetia Baloise prints first bond since merger

Funding director Jason Lewis and portfolio manager Greg Horan reflect on biggest ever Canadian provincial bond

Third Canadian province to come to the currency this year

◆ Sterling market welcomes third unsecured FIG deal of the week ◆ RBC's 15bp price tightening is 'encouraging' for other issuers ◆ Relative value works well versus other G3 currencies

Huge order book allowed the issuer to increase size of five year dollar trade

Issuer had already pre-funded in dollars earlier this year

◆ Canadian retail chain lands euro bond close to equivalent dollars ◆ Some concession needed for first new euro line in two years ◆ Minimal attrition as issuer pushes through 100bp barrier

Canadian province to maintain market-friendly funding approach and 'meet investors where they want us'

◆ Couche-Tard and Louis Dreyfus line up seven year trades ◆ Roquette adds to hybrid queue ◆ Corporate pipeline swells, execution dependent on a shaky backdrop

◆ First dollar SSA benchmark in two weeks, 'very successful' ◆ 'Pro-investor' pricing approach on show once again ◆ Funding for new fiscal year well underway

All three 2026 dollar covered bonds issued in past fortnight as issuers adapt to market conditions

Executive is moving to more senior role