Canadian dollar
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The European Investment Bank (EIB) has been at the forefront of developing the methodology for issuing floating rate notes (FRNs) linked to Sonia and Sofr. As it prepares for issuance in the new risk-free rates in euros, Canadian and Australian dollars, the supranational said it wants to use the same structure for all. -
KfW made a strong return to the Canadian dollar market on Thursday after 3.5 years away from the currency, as it tightened pricing on its comeback deal. The German agency came alongside a green bond in the currency from a Canadian province.
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KfW and Québec will bring Canadian dollar bonds to the market on Thursday, with the former looking to issue in the currency for the first time since 2015.
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Bank of China returned to the bond market with a multi-tranche, multi-currency bond this week, making clear that its funding needs and its role as a flag-bearer of Chinese policy overseas are inextricably linked. Morgan Davis reports.
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SSA issuance in Canadian dollars is enjoying a renaissance, with a pair of deals this week taking July to a record monthly volume and a tenor last seen several years ago returning.
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The World Bank sold a sustainable development bond in Canadian dollars on Thursday that took issuance in the currency from non-Canadian SSAs in July to its busiest month ever.
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The Canadian dollar market could see a resurgence in SSA issuance, said bankers, after the European Investment Bank printed a deal in a rare tenor for the currency this week.
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The International Finance Corporation (IFC) visited the Canadian dollar market for the first time in more than 10 years this week, matching its largest ever deal in the currency for size.
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CPPIB Capital achieved a double whammy with its debut green bond this week, bringing the first international sale of a green bond by a pension fund that grew into the largest ever green bond in Canadian dollars.
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World Bank issued a rare benchmark Canadian dollar bond this week, raising C$1bn ($802m) with a sustainable development deal in a strong week for niche currency sales from SSA borrowers that also included several Australian and New Zealand dollar deals.
