OTTAWA, March 5, 2015 /PRNewswire/ --
Export Development Canada (EDC) has been awarded the Deal of the
Year, by Trade Finance Magazine, for their issuing of a
5-year USD 1 B bond in November,
2014.
EDC is Canada's trade finance
agency, and the leading provider of financing, insurance and
bonding for Canadian companies of all sizes that do business
outside of Canada.
Each year Trade Finance celebrates the best of the industry with
the Deals of the Year Awards. The Deal of the Year Award recognizes
innovation and achievement in the trade finance market. Nominations
are submitted by market participants, to be evaluated by the Trade
Finance editorial team and a panel of judges with industry
experience.
Trade Finance Magazine editors examine submissions based
on deal value, signs of innovation and deal complexity, as well as
risk factors including the tenor and challenges surrounding the
execution of the deal.
"We are thrilled to hear that EDC's global bond has been
selected as a Deal of the Year," said Susan
Love, Vice President and Treasurer, EDC. "EDC's team takes a
careful and measured approach when bringing bonds to market. Our
transparent and consistent track record has earned us a number of
loyal high caliber investors."
"This deal is yet another reminder of the very strong global
following elicited by the EDC name. To be able to achieve such a
heavily oversubscribed transaction at this price point highlights
EDC's premium credit and investors' high regard for the company,"
said Paul Eustace, Managing
Director, Head of Syndicate, TD Securities.
The bond was underwritten by Citi, Daiwa Capital Markets, Morgan
Stanley, and TD Securities. Final book size was almost USD 1.5 B with orders from 58 accounts. EDC
expects to issue several benchmark bonds in 2015, as well as a
second green bond.
The awards ceremony will be held on March
5th at the Four Seasons Hotel Miami after day one
of the Export and Agency Finance Americas Conference.
About Trade Finance Magazine
Trade Finance is a global publication concentrating exclusively
on the international trade finance market - from vanilla trade to
development and agency finance, structured trade and commodity
financing, supply chain, forfaiting and factoring.
Trade Finance reports on trends and developments in the
facilitation of trade and imports/exports in the developed and
emerging markets - keeping readers informed about the latest issues
and most innovative financing mechanisms vital for a successful and
profitable trade business.
About EDC
EDC is Canada's trade finance
agency, providing financing and insurance solutions locally and
around the world to help Canadian companies of any size respond to
international business opportunities. As a profitable Crown
corporation that operates on commercial principles, EDC works
together with private- and public-sector financial institutions to
create greater capacity for Canadian companies to engage in trade
and investment.
For more information about how EDC can help your company, call
us at 1-888-434-8508 or visit http://www.edc.ca.
Spokesperson: Phil Taylor, Export
Development Canada, +1(613)598-2904, ptaylor@edc.ca