Canada
-
SSA bankers looking to get their Christmas shopping in early were in a slight state of shock on Tuesday, as World Bank lined up a dollar deal to follow a Canadian province’s return to the currency after a six year hiatus. -
Royal Bank of Canada not only found good demand in a larger than average size for its five year sterling covered bond on Friday, but also executed the trade at considerable cost advantage compared with dollars and euros.
-
The votes have been counted and the results are in. The BondMarker voters have delivered their verdict on the Export Development Canada (EDC) benchmark
-
Export Development Canada this week brought what could be the last SSA dollar benchmark of the year, printing a strong deal despite conditions weakening as 2017 draws to a close.
-
-
The Province of British Columbia (BC) completed its second Panda bond on Wednesday, raising Rmb1bn ($150.9m) from a three year deal. The issuer went ahead with the deal despite rising yields in China – pushing the coupon to the top half of the guidance range.
-
Export Development Canada tapped the short end of the dollar curve on Tuesday, with bankers away from the deal suggesting it was likely aided by a slight bump in three year swap spreads.
-
Export Development Canada is out with a three year dollar global that carries no-grow language — a tactic the agency once used frequently but dropped from its other benchmarks this year.
-
The Province of British Columbia has again chosen Bank of China and HSBC China for its upcoming return to the Panda bond market.
-
World Bank capped off a series of 10 year dollar benchmarks from SSA issuers, on Tuesday, with the tightest spread to mid-swaps and US Treasuries in the tenor for at least two years. But further benchmark issuance in the currency — other than a rumoured Canadian deal — is unlikely, with issuers well-funded and investors winding down for the year.
-
Singapore’s green bond market cracked open a bit further on Tuesday when Canadian life insurer Manulife Financial Corp sold a S$500m ($367.5m) tier two bond, only the second green deal in the currency.
-
Canadian insurance company Manulife Financial Corp kicked off a Singapore dollar-denominated subordinated green bond sale on Tuesday morning local time.
