Canada
-
Canaccord has returned to profitability after a period of personal tragedy and collapsing revenues, but questions remain about whether the mid-market integrated model can support global ambitions, writes David Rothnie -
The euro benchmark market is set to welcome a debut issuer this week, while a rare borrower in the currency was able to increase a syndication from its initial €500m target.
-
The increasing attractiveness of euros over dollars has led one public sector borrower to mandate for its first ever benchmark in the currency — and more debut issuers could follow.
-
Cities and municipalities are some of the most suitable issuers for the green or socially responsible bond market, but the cost and effort could be too much to for some. Jonathan Breen reports.
-
Covered bond issuers failed to take heed of poor market conditions and, just like lemmings, followed one another with poorly performing deals this week.
-
Bank of Montreal (BMO) returned to the covered bond market for the fourth time this year to issue its third benchmark in euros. At seven years, the tenor was longer than the borrower’s previous two benchmarks, but at €1bn it was considerably smaller even with a wider spread.
-
Caisse Centrale Desjardins (CCDJ) launched a two year floating rate note on Wednesday, making itself a belated addition to last week’s list of Canadian banks printing euro floaters.
-
Yankee bank deals are expected to take centre stage in a resurgence in high grade issuance when the dollar market reopens after its three-week hiatus.
-
Covered bonds proved their worth this week as, despite difficult market conditions, 10 borrowers were able to collectively raise more than €8bn at levels that looked attractive compared to senior unsecured financials.
-
-
-
