July 9, 2020 / 10:01 AM / in a month

Canada's equity, debt deals rise as firms try to ride out virus crisis

July 9 (Reuters) - Canada’s capital market saw a rise in equity and debt deals in the first half of 2020, as companies fortified their balance sheets to deal with the economic slump sparked by the COVID-19 pandemic, but merger activity fell.

Equity market deals rose nearly 34% in the first six months of 2020 from a year earlier to about C$15.8 billion ($11.69 billion), according to Refinitiv data, as companies such as Shopify Inc and Air Canada raised cash.

Canadian companies also raised 67% more debt in the first half of the year, with total corporate debt touching C$158.6 billion, the data showed.

Mergers and acquisitions, however, fell about 63% to C$40 billion as the coronavirus crisis shuttered shops and factories and hammered demand for industries such as hospitality, tourism and retail.

$1 = 1.3516 Canadian dollars Reporting by Neha Malara; Editing by Aditya Soni

0 : 0
  • narrow-browser-and-phone
  • medium-browser-and-portrait-tablet
  • landscape-tablet
  • medium-wide-browser
  • wide-browser-and-larger
  • medium-browser-and-landscape-tablet
  • medium-wide-browser-and-larger
  • above-phone
  • portrait-tablet-and-above
  • above-portrait-tablet
  • landscape-tablet-and-above
  • landscape-tablet-and-medium-wide-browser
  • portrait-tablet-and-below
  • landscape-tablet-and-below