Canadian Junk Bond Sales Are Headed for a Record
- National Bank and BMO top ranking of high-yield bond arrangers
- Market could grow further as banks talk to potential issuers
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Canada’s junk bond market is on track for record issuance this year as an increase in crude oil prices has boosted confidence among local energy companies and investors.
New high-yield issuance in the Canadian dollar accelerated in recent weeks, taking the year-to-date total to C$3 billion ($2.3 billion), a record for this time of year, according to data compiled by Bloomberg. National Bank Financial and BMO Capital Markets, which occupy the top two spots in a ranking of the deals’ arrangers in both volume and number of deals, are hopeful they can bring more transactions to the market in the coming months.