Canada Pension Plan Investment Board returned to the Kangaroo market on 22 February with a 10-year print that smashed the record for deal size at this duration by any borrower outside the domestic government sector. The issuer says the scale of demand took it by surprise despite its commitment to introducing new bond lines via substantial benchmark transactions.
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Quantum leap for Canadian provinces as Québec smashes Kangaroo record
Investor diversity, relative value and the growing status of the Australian dollar market lined up for Province of Québec as it shattered the record volume for a Canadian province Kangaroo transaction. The A$1.35 billion, 10-year print was nearly four times larger than any previous deal from the sector – a record that had stood for a decade.