Export Development Canada

Export Development Canada News

  • Ontario Teachers Completes Syndication of A$465m Loan

    Ontario Teachers’ Pension Plan Board has completed the syndication of a A$465 million fully-secured five-year loan that supports its purchase of a 70% stake in Leighton Holdings’ NextGen telecommunications unit, according to two people familiar with the matter. * Lenders joining include Westpac, ANZ, CBA, Investec, ING Bank, Export Development Canada, Bank of Nova Scotia, and Siemens * Borrower: Ontario Teachers’ Pension Plan Board * Underwriters: HSBC, Macquarie and Morgan Stanley * Amount: A$465m * Tenor: 5 yrs * Loan type: A$120m amortizing term loan, A$220m bullet term loan, A$100m bullet loan for capital expenditure and a A$25m revolving facility * Margin: Starts at c. 425-450bps, based on leverage grid * Fees: 350bps to 370bps, depending on commitments * Financial close expected by end of May, said one of the people * Status: Closed * Information from people familiar with the deal, who asked not to be identified because the details are private NOTE: Leighton and Ontario ag

  • Poloz Hire at Central Bank Signals Weaker Loonie: Canada Credit

    Stephen Poloz’s appointment as head of the Bank of Canada may signal a weaker currency and lower borrowing costs as the world’s 11th-largest economy looks to exports to revive growth.

  • Stephen Poloz Named Bank of Canada Head Replacing Carney

    The appointment of Stephen Poloz as Canada’s next central bank head taps his experience leading the country’s export-financing body as the world’s 11th largest economy relies on trade and business investment to lead growth.

  • Stephen Poloz Named Bank of Canada Head Replacing Carney

    The appointment of Stephen Poloz as Canada’s next central bank head taps his experience leading the country’s export-financing body as the world’s 11th largest economy relies on trade and business investment to lead growth.

  • Canada Dollar Gains as Stimulus Pledge Spurs Appetite for Risk

    The Canadian dollar rose against its U.S. counterpart as investors sought higher-yielding currencies amid speculation that gains in American payrolls won’t keep the Federal Reserve from maintaining stimulus to sustain growth.

  • G-7 Governments Not Playing Favorites as Central Banks Revamped

    It’s not paying to be either an insider or the favorite when it comes to landing the top job at a Group of Seven central bank.

  • Canadian Currency Weakens as Poloz Named Central-Bank Governor

    The Canadian dollar fell against its U.S. counterpart after Stephen Poloz, head of the nation’s export-financing agency, was named to lead the Bank of Canada amid concern he may be more amenable to easier monetary policy than the official he will succeed.

  • Canada Said to Name Carney Central Bank Replacement Today

    Finance Minister Jim Flaherty may name a replacement for Bank of Canada Governor Mark Carney as early as today, according to a person familiar with the plans.

  • Porter Weighs Debt Backed by Jets to Finance CSeries Plan

    Porter Airlines Inc. will consider selling aircraft-backed debt to pay for CSeries planes from Bombardier Inc., a purchase that marks the carrier’s first foray into jet travel, said Chief Executive Officer Robert Deluce.

  • Canadian Dollar Strongest Since February as Economy Expands

    The Canadian dollar reached the strongest level since February after the nation’s economy grew faster than forecast and speculation increased that U.S. policy makers will sustain monetary stimulus measures.

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