Skip to main content

The corporate bond market continues to soak up new issues, with utility Gaz Metro selling $100-million of debt on Monday.

Quebec's largest natural gas distributor sold ten-year first mortgage bonds, with proceeds earmarked for paying down an existing mortgage bond issue that is coming due. BMO Nesbitt Burns led the underwriting.

The Gaz Metro debt is rated single-A, a strong credit rating, and pay 4.93 per cent interesting, which is a 140 basis point premium to the comparable government of Canada bond.

Story continues below advertisement

Recent months have seen a flurry of bond issues from Canadian companies that want to borrow at relatively low interest rates.

Report an error
About the Author
Business Columnist

Andrew Willis is a business columnist for the Report on Business at The Globe and Mail, based in Toronto.He has been in business communications and journalism for three decades. More

Comments are closed

We have closed comments on this story for legal reasons. For more information on our commenting policies and how our community-based moderation works, please read our Community Guidelines and our Terms and Conditions.

Combined Shape Created with Sketch.

Combined Shape Created with Sketch.

Thank you!

You are now subscribed to the newsletter at

You can unsubscribe from this newsletter or Globe promotions at any time by clicking the link at the bottom of the newsletter, or by emailing us at