CIBC World Markets
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The Cover and GlobalCapital held the annual Covered Bond Awards Dinner on Thursday night at BMW Welt in Munich, celebrating the best performers in the market.
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Yankee financials led the charge in the dollar market this week, as investors showed a strong appetite for high-grade credit.
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Canadian Imperial Bank of Commerce (CIBC) sold its first senior unsecured Swiss franc debt on Thursday as opportunities for arbitrage grow for well-rated credits.
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Carmakers took advantage of a light calendar and an improving backdrop to reopen the dollar bond market after a week-long supply drought.
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Canadian Imperial bank of Commerce this week issued the first dollar covered bond in 144A format this year. The funding, which was much cheaper than the cost of raising a similar deal in dollar senior format, could well unleash a slew of supply, mostly from Canadian banks but also potentially from European names.
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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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CPPIB Capital will sell its first ever green bond this week, coming on the heels of a French region’s foray into green and sustainability bonds.
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Canadian banks will be able to issue debt to meet their total loss-absorbing capacity (TLAC) requirements from September, with issuers focused on the costs of what they expect will be an otherwise straightforward process of rolling over their maturing debt.
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Citigroup and Svenska Handelsbanken were both offering senior bonds in euros on Wednesday, as bankers started to question whether the primary market could continue to support large volumes of new issuance.