Canadian dollar

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.

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.

Walt Disney joined the swell of blue chips entering the Maple market, selling C$1.25bn ($1bn) of seven year notes on Wednesday. Maple bonds, a suburb of niche currency markets for years, is becoming a hotbed for blue chips in search of diversification, writes Silas Brown.

Walt Disney joined the swell of blue chips entering the Maple market, selling C$1.25bn ($1bn) of seven year notes on Tuesday. And, as recent issues from AB InBev, Apple and McDonald's demonstrate, the Maple market is becoming a central pillar of corporate funding diversification.

The Walt Disney Company is heading north for Canadian dollars, in its first public foray beyond the dollar market.

The renminbi held its spot as the world’s fifth most active payments currency in August, according to Swift’s RMB tracker. The news came just a day after Swift said it will start displaying China’s Cross-Border Interbank Payment System’s (Cips) data on its system.

Harvest Operations Corp said last Friday that it has completed a C$1bn ($763m) refinancing, comprising a new term loan and restructuring of an existing credit facility.

The Province of Quebec is set to follow its neighbour Ontario into green bond issuance, opening books for the inaugural bond on Thursday.

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.

Canada’s low debt to GDP ratio and stable politics have made it a haven in a turbulent era in global politics. But, with fears of a wave of protectionism growing, the trade-focused country faces problems ahead. However, with its fiscal stimulus programme an example to other nations wishing to promote growth, Canada’s borrowers are confident they can adapt and prosper in the new political reality. GlobalCapital hosted this roundtable in early December.

In this round-up, the Hong Kong Stock Exchange saw surges in trading of offshore RMB (CNH) futures, BMO became the first Canadian bank to become market maker for CAD-RMB direct trading, and the country of Djibouti is launching a Silk Road Bank. Plus a recap of GlobalRMB’s top stories this week.

The European Investment Bank issued a C$500m ($381.5m) green bond on Friday. This is just the second non-Canadian SSA offering in the Maple market this year.