The Financial Post reports in its Wednesday, May 1, edition that National Bank of Canada is opening an office in Paris to cater to supranational and government-backed issuers, a segment that is selling euro-denominated bonds at a record pace this year. A Reuters dispatch to the Post reports that Simon Cote, who heads the London office, will also lead operations for the Paris branch, said head of fixed income Sean St. John. The office got a licence to operate in Paris this month, he said. "The initial rationale is to expand the fixed income institutional sales coverage in Europe, together with building out our SSA business," Mr. St. John said. Supranationals, sovereign and agencies or SSAS -- which have traditionally raised funds in multiple currencies -- borrowed 386 billion euros ($413-billion (U.S.)) from the syndicated bond market so far this year, according to Bloomberg. That is a record for the period and a 14-per-cent jump year over year. National Bank's larger rivals at home have been arranging euro bond sales for borrowers, including provinces and pension funds. Saskatchewan is looking at a potential inaugural euro-denominated, 10-year bond deal, with TD being one of the bookrunners.