CIBC World Markets
-
All three 2026 dollar covered bonds issued in past fortnight as issuers adapt to market conditions -
◆ Canadian issuer landed first covered since October ◆ Issuer fixed the spread at the start of execution ◆ Banker said there is decent liquidity in dollar covered bonds
-
◆ Spread fixed early at 53bp over Sofr ◆ Priced in line with ANZ’s dollar trade on Monday ◆ BMO has been a pioneer in covered issuance this year
-
Canada throwing full weight behind plan for new multilateral lender for defence funding
-
◆ Canadian bank priced the only covered bond on Tuesday ◆ Lead said issuer paid just outside fair value ◆ Sfr325m deal was 'a strong outcome'
-
Canadian bank has been building its European SSA business
-
Market participants hope more jurisdictions will follow as Canadian duo attract record demand
-
◆ Possible record demand for first non-UK benchmark since PRA debacle in April ◆ Deal lands flat to fair value and euros ◆ Market hopes more names will follow
-
◆ First offshore deal in sterling since PRA debacle in April ◆ Canadian undersupply driving demand ◆ Euro still better despite the UK Treasury's equivalence plans
-
CIBC raises deeply subordinated debt capital in dollars as diverse set of foreign lenders print senior bonds
-
◆ Canadian lender completes biggest euro funding since 2020 ◆ Third deal in Canadian bank series ◆ Euro proves 'attractive' for these issuers
-
◆ 'Special trade' for the Dutch agency ◆ Bankers agree on NIP ◆ AIIB trade gives demand signal
