Canada
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Crédit Agricole CIB said on Tuesday that it had received approval for a branch in Canada.
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Export Development Canada is to print a long four year sterling bond as demand for paper in the currency defied fears of a possible UK's exit from the European Union. -
The Singapore dollar bond market’s recent resurgence of private bank demand has prompted a slew of subordinated debt issuance with Manulife Financial Corp launching a rare insurance tier two and Mapletree Logistics Trust opting for a perp non call five and a half on Monday.
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The Province of Quebec has returned to the medium term note market after a long absence, printing in Hong Kong dollars.
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After a bumper two weeks, issuance in dollars slowed down this week in anticipation of the Federal Open Market Committee’s meeting on April 26-27.
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Covered bond activity slowed this week with only three deals emerging, half the number seen in the prior week, with Canadian issuers at the fore.
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A pair of rare SSA names kept Kangaroo and Kauri bond supply ticking over this week, as Asian investor appetite drove demand.
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The Province of Ontario on Wednesday became the second Canadian issuer to print a 10 year dollar benchmark this month, adding to a recovery in issuance at that part of the curve.
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Bank of Nova Scotia (BNS) has issued the largest legislative US dollar denominated covered bond at a considerably tighter spread than the previous two transactions and with a minimal new issue concession.
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An increase in swap spreads at the short end of the curve drove public sector issuers to focus their attention on shorter maturities in the dollar market this week.
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Toronto Dominion Bank attracted the highest oversubscription level of any Canadian deal issued in euros this year even though it was its fourth foray into the covered bond market in 2016.
