Canada
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Canadian Imperial Bank of Commerce this week priced the first negative yielding non-Eurozone covered bond, with a well oversubscribed order book and a tiny new issue concession.
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Canadian Imperial Bank of Commerce priced the first negative yielding non Eurozone covered bond and attracted a comfortably oversubscribed order book with a tiny new issue concession.
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The province of Quebec issued a A$75m ($57.3m) tap to its May 2026 Kangaroo bond, taking the total outstanding to A$435m. -
Canadian Imperial Bank of Commerce has tapped its three year sterling covered bond at a tighter spread than it was initially priced and in a considerably larger size than the minimum it had planned.
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Brexit is here, and so is our round-up! This week: Fullgoal Asset Management launches its first RMB ETF in Europe, the Hong Kong Exchange runs further Shenzhen Connect testing, and China announces direct trading of the RMB against the Korean won. Plus, a recap of our coverage this week.
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The Province of Manitoba sold a 10 year dollar bond on Tuesday, taking advantage of a good window despite the impending Fed rates decision on Wednesday.
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Cott Corp, the US-Canadian drinks maker, on Thursday sold a €450m bond to support its buyout of Eden Springs of Switzerland.
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The response to some of this week’s dollar deals has got some bankers believing that next week’s US Federal Reserve meeting might not prove to be the market shutting millstone that it had promised to be just a few weeks ago.
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Bank of Montreal (BMO) issued its debut dollar legislative covered bond on Thursday, achieving the tightest spread of any covered bond issued this year in the currency.
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The Bank of Montreal has priced its first covered bond in dollars since Canadian covered bond legislation was implemented in June 2012. Having been out the market for so long, the deal benefitted from “scarcity value” and was priced with no new issue premium.
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A pair of public sector borrowers are lining up to sell dollar floating rate notes on Thursday, following a series of floating and fixed rate deals in the currency on Wednesday.
