Latest news with #OntarioProvince
Bloomberg
7 hours ago
- Business
- Bloomberg
Ontario Drops US Banks for Yankee Bond Sale in First Since 2011
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.
Bloomberg
15-05-2025
- Business
- Bloomberg
Trade War Brings Ontario Budget Deficit to Near Pandemic Levels
Ontario's budget shortfall is expected to reach its highest level since the beginning of the Covid-19 pandemic as the effects of the trade war hurt economic growth. The provincial government's deficit is projected to be C$14.6 billion ($10.5 billion) in the fiscal year that began April 1 — its deepest in more than a decade outside of the pandemic. The result is a much larger borrowing plan that the government anticipated in October, when it projected a deficit of just C$1.5 billion for this year.
