Jumbo bond offerings are coming in both the U.S. and Canadian markets this week..
Canada Housing Trust, the federal agency that insures mortgages, will set the price Wednesday on a new $7-billion global issue of Canada Mortgage Bonds, known on the Street as CMBs.
The latest bonds mature in 2014, and the underwriters are expected to price the debt at 20.5 basis points over the comparable government of Canada five-year bond. Canada Housing Trust is one of the largest debt issuers in the the domestic credit market.
RBC Dominion Securities, BMO Nesbitt Burns, CIBC World Markets and TD Securities are joint leads on this financing.
Tuesday saw $14.75-billion of new corporate debt issues in the U.S. credit market, the second largest volume of offerings completed this year
Andrew Willis