BlackRock Auctions C$1.5 Billion of Restructured Short-Term Debt
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BlackRock Inc. auctioned C$1.5 billion ($1.36 billion) of restructured asset-backed commercial paper held by investors in the third organized sale of such notes since Canada’s short-term debt market collapsed in 2007.
The weighted average price of Master Asset Vehicle II notes was 94.8 cents on the dollar in today’s auction, BlackRock 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, and 94.4 cents in the Feb. 11 sale for C$1.9 billion of the notes, according to BlackRock data. Those prices are more than double where the securities traded in 2009, according to Colin Kilgour, a partner of Kilgour Williams Group.