Apple Leads Maple Bond Surge to Decade High
- Maple bonds are key driver as U.S. companies head north
- Domestic issuance also strong ahead of central-bank rate hikes
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Apple Inc.’s surprise foray into Canadian-dollar debt has pushed corporate issuance to a near-record with more companies expected to beat a path north in search of attractive borrowing rates.
Foreign companies issuing in loonies have sold about C$15.2 billion ($12.2 billion) worth of debt this year -- the busiest year for Maple bonds since 2007. That’s helped drive sales in the Canadian market to about C$70.3 billion this year, just shy of the C$71.4 billion record set in 2013 for the same period, according to data compiled by Bloomberg.