TORONTO - Fundraising in Canada's capital markets made a modest turnaround in the second quarter as copper miners gave a bump to depressed equity market issuance, while oil companies led the charge on debt issuance, according to data from Refinitiv.
Investors' appetite to snap up high-yield corporate debt continued as companies once again tapped the bond market due to lack of investor interest in the equity markets. As in previous quarters, high interest rates revived the corporate bond market.Corporate Canada doubled its fundraising through the debt market by raising as much as C$35 billion from that source as the Bank of Canada continued its hawkish stance on its interest rate cuts.
On the top M&A deals, Brookfield's C$9.4 billion acquisition of French alternative energy services company Neoen, private equity firm Advent's C$8.3 billion buyout of Canadian payment firm Nuvei Corp and Canadian Western Bank's acquisition by National Bank of Canada for C$4.8 billion topped Refinitiv's M&A rankings.
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