Canada
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SSAs in the dollar market had largely failed to impress this week, providing only a single dollar benchmark. However, one Washington supranational changed that with a remarkable deal on Thursday.
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Issuers from across the SSA galaxy enjoyed smoothly executed deals all along the euro curve, including one touching down in the currency for the first time. -
The Province of Alberta printed its first ever euro bond on Wednesday, opting to follow its compatriot Ontario in attacking the sweet spot for investors at seven years.
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A trio of euro borrowers picked up a combined €8.5bn on Tuesday, seemingly without testing the limits of demand in the market.
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The Ontario Teachers’ Finance Trust (OTFT) on Tuesday outdid its dollar debut last year for size, as its second ever international trade clocked in at $2bn.
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The euro market is back in gear after a few weeks of slow issuance. Three borrowers have mandated deals for Tuesday’s session but one opted for a one day execution, coming on Monday to get ahead of the rush.
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A rare name will grace the dollar market on Tuesday, coming ahead the minutes of the Federal Open Markets Committee meeting, expected to be released on Wednesday.
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Bank of Montreal raised £400m ($569m) of five year funding in covered bonds on Monday following £1bn deals from Santander UK and Nationwide last week. But with fewer sterling covered bonds redeeming after this month, primary activity is expected to slow down.
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Turkiye Is Bankasi (Isbank) recently signaled its intention to issue, while HSBC Canada has registered a covered bond corporate entity.
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Canadian insurance holding company Fairfax Financial Holdings issued a eurobond for the first time on Thursday, taking advantage of more favourable market conditions.
