The Financial Post reports in its Tuesday edition that Canada plans to sell bonds in the U.S. dollar market for the first time since the start of the pandemic.
A Bloomberg dispatch to the Post says that Canada plans to sell five-year bonds in the first benchmark-sized transaction in the currency since January, 2020. The bonds, which are expected to be priced Tuesday, are being marketed at around eight basis points over U.S. Treasuries.
Canada's economy is expected to grow 6.1 per cent this year, up from a 5.4-per-cent decline in 2020, according to analysts' consensus. Analysts polled see the U.S. economy, Canada's largest trade and investment partner, expanding by 6.3 per cent in 2021 after a 3.5-per-cent contraction in 2020.
BMO Capital Markets, Bofa Securities, J.P. Morgan Chase & Co., Scotiabank, and TD Securities are arranging the deal.
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