Market volatility, high interest rates push down Canadian fundraising

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Market volatility, high interest rates push down Canadian fund raising

Rogers Communications Inc.’s $4.2-billion debt issue in March was the largest corporate debt issuance in the first half of the year, followed by TransCanada Pipeline.

Among companies, Bausch & Lomb Inc.’s $914-million equity issuance and Xenon Pharmaceuticals $359.2-million equity fundraising led the chart for the first half of 2022. “Dealmaking in the short term might be trickier given current market volatilities, but neither companies nor private equity players can or will wait for the bottom to make strategic acquisitions or investments,” said Jeffrey Singer, chair of Toronto-based M&A advisory law firm Stikeman Elliott.

Bank of Montreal led the league table in investment banking across Canadian equity, common stocks/trusts and secondary offers, while Morgan Stanley led the table on initial public offerings. Canadian Imperial Bank of Commerce led the retail structural products.

 

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