Interest tops USD5bn for rare Canada US dollar bond
By John Geddie
LONDON, Feb 20 (IFR) - Initial interest has topped USD5bn for Canada's first sale of a US dollar denominated bond in two years, said a banker managing the sale on Thursday.
The sovereign, rated Aaa/AAA/AAA by Moody's/S&P/Fitch, has set guidance on the five-year SEC-registered Global bond, maturing in February 2019, at 12bp area over the equivalent five-year US Treasury note, from initial price thoughts of 12-14bp released on Wednesday afternoon.
The deal is expected to price later on Thursday via HSBC, JP Morgan, RBC and Scotia, marking Canada's first US dollar bond sale since it placed a USD3bn five-year in February 2012.
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