Canada
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Moody's downgraded the Province of Alberta a notch on Tuesday with the rating agency blaming a “structural weakness” in the region’s economy through its dependence on non-renewable energy such as oil. -
Bank of Nova Scotia returned to the sterling market for the first time in more than a year on Wednesday, when it sold its first total loss-absorbing capacity (TLAC) compliant senior bonds in the currency a day after reporting its full year results.
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Economies like Canada and Australia that rely upon carbon dioxide-heavy industries are well placed for establishing transition bonds in the SSA market. Having already blazed the trail for green bonds and new risk-free rate linked paper, it is time for SSA issuers to establish transition bonds as a public sector instrument.
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The Province of Ontario is keeping a close eye on foreign markets as it considers whether to follow Wednesday’s Canadian dollar green bond with a foreign currency issue.
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The Province of Ontario hit screens on Tuesday afternoon with initial price thoughts for a C$750m no-grow tap of the February 2025 bonds.
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The Fédération des Caisses Desjardins du Québec (FDCQ) issued its longest covered bond at its tightest-ever spread to Canadian peers on Tuesday.
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The Province of Ontario is readying for a tap its 2025 Canadian dollar denominated green bond for the second time this year.
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The Fédération des caisses Desjardins du Québec (FCDQ) on Monday mandated leads for a euro covered bond, its second appearance in euros since January and its third overall in covered bonds.
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A pair of public sector borrowers hit the dollar market this week, pulling off strong deals at three and five years. Both enjoyed a clear field as euro-based borrowers stuck to their home currency thanks to an unpalatable basis swap rate.
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The Province of Alberta has announced a five year dollar benchmark, hitting screens with initial price thoughts for the borrower's second dollar benchmark of 2019.
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The Province of Alberta has announced its financing requirements for the next few years, which will be met with benchmarks in a range of currencies, medium term notes and structured issues.
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