Canada
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CPPIB Capital is looking to step across the Atlantic into euros, selecting four banks to roadshow its euro debut. Elsewhere, the European Financial Stability Facility (EFSF) sent out its first request for proposals for the second quarter. -
First Quantum Minerals, a Canadian mining company with African operations in Zambia among other EM countries, has announced investor meetings for a combined tender offer and new issue this week.
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Strict asset encumbrance limits imposed by regulators in Canada and Singapore could be increased, in a move that could improve covered bond supply from the two regions.
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Toronto Dominion had less luck than its Canadian peers when it issued the third sterling Canadian covered bond of the year this week. Even though the transaction offered a hefty concession there was only sufficient demand to issue in half the size of the previous deals.
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Toronto Dominion became the third Canadian bank to issue a sterling covered bond benchmark this year with a deal launched on Monday. Despite an attractive spread, the book was slow to build and the deal size looked set to be smaller than average.
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The Province of Quebec is set to follow its neighbour Ontario into green bond issuance, opening books for the inaugural bond on Thursday.
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The Province of Quebec is set to follow its neighbour Ontario into green bond issuance, after hiring banks to run a roadshow for a potential deal in its home currency.
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The Province of Alberta's first ever sterling bond exceeded the "wildest expectations" of leads and onlookers. The deal demonstrated the strength of the sterling market and is likely to encourage the issuer's peers to follow suit.
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The first ever sterling bond from the Province of Alberta arrived on Thursday, surprising onlookers and participants alike by breaking the size record for a Canadian province sterling deal. The trade's success is expected to give the issuer's peers the confidence to follow suit.
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The Province of Alberta is set to make its debut in sterling on Thursday, in a move which may pave the way for its peers to follow suit.
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See how market participants rated Ontario's $2.5bn five year and FADE's €1bn March 2022 bond.
