U.S. Bancorp is looking to sell as much as $1 billion of bonds in Canada, tapping the loonie market for the first time in more than two decades. The debt sale, which could come as soon as next week, would target at least $750 million, according to people with knowledge of the matter. The bond will likely mature in five, seven or 10 years, they said, asking not to be identified as they aren’t authorized to speak publicly. U.S. Bancorp offered a pre-recorded presentation to debt investors starting Monday, with executives scheduled to meet money managers in Toronto later this week, Bloomberg previously reported. Charles St-Arnaud: Canada has escaped higher bond yields, but higher borrowing costs are still on the wayBank of Canada rate decision will likely determine where the Canadian dollar goes from here, report says A representative for U.S. Bancorp declined to comment. U.S. Bancorp last tapped the Canadian dollar debt market in 2005, redeeming the $450 million bond five years later. The latest transaction would add to a record year for so-called maple bonds , with around $51 billion issued so far, more than twice the previous record, according to data compiled by Bloomberg. Bloomberg.com
U.S. Bancorp poised for Canadian bond return after two decades
