BlackRock Auctions C$1.9 Billion of Restructured Short-Term Debt
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BlackRock Inc. auctioned C$1.9 billion ($1.72 billion) of restructured asset-backed commercial paper held by investors in the second organized sale of such notes since Canada’s short-term debt market collapsed more than six years ago.
The weighted average price of Master Asset Vehicle II notes was 94.4 cents on the dollar in today’s auction, administrator BlackRock Inc. said on its website. That’s up from 94.3 in the first auction on Dec. 10 in which C$1.5 billion was sold, according to BlackRock data, and more than double where those securities traded in 2009, according to Colin Kilgour, a partner of Kilgour Williams Group.