As COVID-19 pandemic roils Canada, companies tap bond market by most in a decade

This translation has been automatically generated and has not been verified for accuracy.Canadian companies went on a debt binge as the COVID-19 crisis slammed the economy, with Canada Inc rushing to the bond market at the heaviest pace in at least a decade.

Cash raised via bonds would make issuers financially more resilient should a second wave of coronavirus infections stall economic recovery. Bonds tend to come due over a longer period than bank loans, adding comfort.“You don’t want to be caught in a situation when you do need the access to capital markets and they’re closed off to you,” said Barry Schwartz, chief investment officer at Baskin Wealth Management.

Some borrowing was pre-funding and some was used to pay down lines of bank credit, said Brad Meiers, head of debt capital markets and syndication at HSBC Securities. If additional liquidity was needed, he explained, companies could then have room to borrow more. Already, the debt-to-equity ratio of private non-financial corporations jumped to 212% in the first quarter, the highest since 2009, official data showed on Friday.

globebusiness Canada’s finance minister getting rich off the immigration scam. How is this any different than any othe era of trading in Black people? Trudeau gets $250,000 for every coloured head he brings into the country —off his European Union 🇪🇺 tax bill !

globebusiness Dr. Samadi Director Mens' Health, St. Francis Hospital : 'NO SECOND WAVE. The toughest part of COVID19 is behind us. This was a nursing home virus. Small baby waves and spikes here and there but no major second wave.'

globebusiness Professor Clementi reveals how coronavirus today is a hundred times weaker than March. Massimo Clementi is a full Professor of Microbiology and Virology, University Vita-Salute San Raffaele, Milan, Italy. It's an absolutely macroscopic difference.

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