Toronto plans C$600 mln bond issuance in 2014 - Bloomberg

Thu Nov 21, 2013 8:38pm EST
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Nov 21 (Reuters) - Toronto's chief financial officer said the city plans to double its borrowing in 2014 from this year, Bloomberg reported.

The city plans to issue C$600 million ($570.8 million) bonds in 2014 with half of the issuance in first half of the year, according to the report.

There is a strong demand for municipal bonds, Rob Rossini, city's chief financial officer, said in an interview to Bloomberg.

Toronto, in particular, also sees a substantial demand for its bonds, Rossini said.

The city council could not immediately be reached for comment by Reuters outside of regular U.S. business hours.