Here are the top reads on deals and financial services over the last 24 hours,
FINANCIAL SERVICES NEWS
Activity surges in ‘maple’ bond market as global public-sector entities take advantage of low borrowing costs: Low borrowing costs and strong investor demand have led to a rush of activity in the “maple” bond market, as global public-sector entities tap the Canadian debt market for cash. Story (Alexandra Posadzki)
Canada’s latest real estate IPO targeting a 2 per cent yield, testing investor limits: The latest property owner to attempt an initial public offering is aiming to pay an annual yield around 2 per cent, according to a source familiar with the deal, an uncommonly low rate that illustrates just how popular the market for Canadian apartment buildings has become. Story (Tim Kiladze)
HSBC’s online loan platform promises fast funding: HSBC Bank Canada is aiming to stand out from its banking rivals with eCredit, a new line-of-credit product that busy Canadian entrepreneurs can apply for online. Story (Cailynn Klingbeil)
DEALS NEWS: MERGERS, ACQUISITIONS, IPOs and FINANCINGS
Brookfield Business Partners to sell stake in North American Palladium in $1-billion deal with Implats: Canadian palladium miner North American Palladium Ltd. has agreed to sell itself for $1-billion in an unusually structured deal that sees its biggest shareholder, Brookfield Business Partners L.P., accept a discount in order to cash in on a big return amid strong global demand for the metal. Story (David Milstead and Niall McGee)
Back to the boom: Canadian tech sector posts biggest quarter for financing since the dot-com bubble: Canada’s technology sector had one of its strongest showings for venture- and growth-capital financing in the third quarter, as large funds continue to seek bigger investments in private companies. Story (Sean Silcoff)
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