TORONTO, Nov 7 (Reuters) - The Government of Canada set the size of its U.S. dollar-denominated 5-year global bond issue at $3 billion and the spread has been set at 9 basis points over U.S. Treasuries, IFR reported on Tuesday.
This is the first issue by Canada’s government of a U.S. dollar global bond, which is sold in several countries at the same time, since March 2015. The funds will be used “to supplement and diversify Canada’s foreign exchange reserves,” Canada’s Department of Finance said on its website on Monday.
The Department of Finance was not immediately available for comment on Tuesday. (Reporting by Fergal Smith; Editing by Chizu Nomiyama)