Scotiabank

Sydney Airport has become the first borrower to issue a sustainability-linked US private placement.

Ontario printed a first green bond off its domestic medium term note programme this week, and the deal was over six times covered. Demand for green provincial paper is high, with Ontario coming a week after neighbouring Quebec.

Export Development Canada has mandated banks for its first dollar benchmark of the year in what has been a quiet week in the currency for public sector borrowers. SSA bankers expect activity in dollars to pick-up next week, despite a US public holiday on Monday.

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Demand for Quebec’s latest green bond was high with investors pouring into the C$500m ($376.2m) no-grow deal, leading to the books closing after only 20 minutes.

The Province of Quebec has hired banks to lead a new Canadian dollar green bond — its first since the start of last year.

The European Investment Bank and the Province of Quebec were well subscribed as they re-opened the dollar SSA market following the extended Lunar New Year holiday. Two more public sector borrowers will follow with dollar bonds on Wednesday, ahead of what is expected to be a busy month in the currency.

Anglo Pacific Group, the London-listed, mining resources royalty company, has amended and extended its dollar revolving credit facility, which has now tripled in the last few years.

A pair of supranationals opened the Maple market with sustainability bonds this week. The Canadian green market is “going through a growth phase” as more and more domestic investors show interest in the product, according to bankers.

The World Bank hit screens on Monday with a mandate for a new five year sustainable development Maple bond — its first public Canadian dollar issue since September.

Indian Oil Corp’s Canadian subsidiary, IndOil Montney, has returned to the loan market for a C$580m ($438m) five year deal. Unlike the last time, when it was primarily focusing on US and Canadian banks, the latest deal is targeting Asian liquidity.

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.