Canada Sells Its Largest U.S. Dollar Bond Since 2015 (1)

Canada sold $3.5 billion of bonds in its largest sale in the U.S. dollar debt market in more than six years.

The North American country priced five-year bonds to yield 6 basis points over U.S. Treasuries, in line with its most recent sale in January 2020, according to people with knowledge of the matter. The transaction received more than $7 billion of orders, said the people, who asked not to be identified because the details are private.

The “bond provides funds to supplement and diversify Canada’s liquid foreign reserves,” the Department of Finance said in an statement Monday before the ...