Quebec Joins Stampede by Canadian Provinces Into Kangaroo Bonds
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Quebec added to a swathe of Canadian provinces borrowing in Australia, joining Manitoba, Ontario and British Columbia in raising funds in the Kangaroo bond market over the past month.
Canada’s largest province by area sold A$100 million ($94 million) of 4.2 percent Kangaroo notes due in March 2025 at a yield 87.5 basis points above Australian federal government securities, according to an e-mailed statement from Toronto-Dominion Bank’s TD Securities unit, which managed the sale along with Royal Bank of Canada’s capital markets unit.