Ontario Drops US Banks for Bond Sale in First Since 2011 (1)

Ontario left American banks out of a US-dollar bond sale for the first time in almost 14 years, choosing Barclays Plc as its foreign bank to help manage a $2 billion debt issue.

Canada’s largest province sold 10-year bonds last week in a deal led by Barclays and three Canadian banks — BMO Capital Markets, Canadian Imperial Bank of Commerce and Bank of Nova Scotia. It’s the first greenback bond issue for Ontario since early January, shortly before Donald Trump’s inauguration.

The last time US banks were not involved in a US-dollar bond sale by Ontario was July 2011, Bloomberg ...