National Bank of Canada joins the ranks of zero coupon issuers, raises €750 million

In terms of coupon it’s about as good as it gets.We are referring to Thursday’s 750 million euro seven year AAA-rated covered bond issue by the National Bank of Canada (NBC).For that borrowing the bank was able to attract enough investors to print a coupon that started with a zero and ended with a zero: in other words, NBC is paying 0.00% for the borrowing.Because NBC’s issue was priced at 99.72 euros per 100 euro face value — meaning a slight discount — the deal came with a slight yield (0.04 per cent) to maturity.

Spotlight

This election year will have a significant impact on long-term indirect tax rules, rates, and risks. More immediately, federal, state, and local tax policymaking, fiscal conditions, and technological disruptions will muddle the short-term indirect tax environment in the United States. This white paper will cover the important tr


Other News

Dom Nicastro | April 03, 2020

Read More

Dom Nicastro | April 03, 2020

Read More

Dom Nicastro | April 03, 2020

Read More

Dom Nicastro | April 03, 2020

Read More

Spotlight

This election year will have a significant impact on long-term indirect tax rules, rates, and risks. More immediately, federal, state, and local tax policymaking, fiscal conditions, and technological disruptions will muddle the short-term indirect tax environment in the United States. This white paper will cover the important tr

Resources