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Canada to price U.S. dollar global bonds on Tuesday; price talk Treasuries plus 12 bps area
By Mary-Katherine Stinson
Lexington, Ky., April 22 – Canada (Aaa/AAA) plans to sell U.S. dollar-denominated global bonds on Tuesday, according to a press release.
Initial talk on the five-year bonds is in the Treasuries plus 12 basis points area, a source reported.
The benchmark deal will be in the Securities and Exchange Commission-registered global format.
The notes will mature on April 30, 2029.
BMO Capital Markets Corp. is handling billing and delivery.
BNP Paribas Securities Corp., BofA Securities, Inc., National Bank of Canada and TD Securities (USA) LLC are lead managers.
Proceeds will be used to supplement and diversify Canada's liquid foreign reserves. The government of Canada is committed to maintaining liquid foreign reserves at or above 3% of nominal gross domestic product.
Settlement is planned for April 30.
Canada last issued a dollar bond on April 19, 2023 totaling $4 billion.
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