No results found for "".

Commentary & Deal Flow

Related Deals

Government of Canada (CANADA) May 26

Related Parents

Government of Canada

Related Issuers

Government of Canada

by Chris Reich

May 20, 2026 11:36 AM ET

PRICED: Canada US$3.5bn 5yr Sr Unsec; T+2bp

IGC US Market: Deal Flow - SSAIGC European Market: Deal Flow - SSA

Issuer	Term	Coupon	Maturity	Size	Ranking	Type	Price	Yield	IPT	Guidance	Spread	IPT-PXD
Canada	5yr	4.25%	28-May-31	US$3.5bn	Sr Unsec	Fixed	99.777	4.30%	T+5a	T+3a	T+2	-3

Reoffer: 5yr: T+2bp / 99.777 / 4.30%
Benchmark: 5yr: CT5 @ 98-06¾ / 4.28% / HR 102%

Spread set at: 5yr: T+2bp - Books above US$13.6bn (excl. JLM interest)
Guidance: 5yr: T+3a - IOIs in excess of US$10.4bn (excl. JLM interest)
IPTs: 5yr: T+5a

Issuer: Canada
Issuer Ratings: Aaa/AAA (Moody's/S&P - Stable/Stable)
Format: SEC Registered Global
Size: US$3.5bn
Maturity: 28-May-31
Settlement: 28-May-26 (T+5)
Coupon: 4.25%, SA 30/360
Reoffer: 99.777 / 4.30% / CT5+2bp (CT5 Ref: 98-06¾ / 4.28%; HR 102%)
Denominations: US$5,000 + US$5,000
Bookrunners: BofA, BMO (B&D/DM), BNP, NBC, TD
Listing: Luxembourg (Euro MTF Market)
Governing Law: Ontario and Canada
Documentation: Issuer's SEC Registered Shelf Programme
Target Market: Professional / Eligible Counterparties (All Distribution Channels)
Fees: The Banks will be paid a fee by the Issuer in respect of the placement of the securities
ISIN: US135087U513
CUSIP: 135087U51
Timing: Priced, TOE 3.51pm UKT / 10.51am EST
MiFID Target Market: The manufacturer target market (MiFID product governance) is eligible and professional counterparties only (all distribution channels).
UK MiFIR Target Market: The manufacturer target market (MiFIR product governance) is eligible and professional counterparties only (all distribution channels).