Designed by the professional and consumer executive, this is a gold mine of information on the bank market today. It provides outstanding information on publicly and privately held debt securities issued by Canadian incorporated companies, together with their features and provisions. Seperate tables list convertible, exchangeable, retractable and extendible debt issues. An additional table lists outstanding asset-backed securities.
Corporate debt issues outstanding as of May 8, 2019 have been included.
Credit ratings are forward-looking measures that assess an entity’s ability to make timely payments of interest and principal. As such, a credit rating combines both quantitative and qualitative analysis.
In addition, FPbonds: Corporate includes ratings supplied by Dominion Bond Rating Service (DBRS). The DBRS ratings, dated May 9, 2017, are presented in two tables, in addition to being shown with each issue. The first table lists issues by rating, from lowest to highest. Generally, a DBRS rating of BBB is considered to be investment grade and anything below that could be considered as non-investment grade or high-yield debt. As well, unrated securities are also considered to be high-yield if its spread to a comparable Government of Canada issue is substantially higher than the spread between investment-grade corporate bonds and Government of Canada issues. A second table lists all rated issues by company.
This must-have edition also contains added front matter:
- A Bank of Canada analysis of the recent increase in corporate bond spreads,
- And the results of a Canadian Fixed Income Forum discussion on the CFIF's 2018 Fixed income market survey.
1. WHAT EXPLAINS THE RECENT INCREASE IN CANADIAN CORPORATE BOND SPREADS
- A Bank of Canada analysis of corporate bond spreads between July 2014 and September 2016.
2. CFIF CORPORATE BOND MARKET FOCUS GROUP
- Results of a Canadian Fixed Income Forum discussion on the CFIF's 2017 fixed- income market survey, identifying trends and methods of improving market functioning.
- Description of the contents of the book.
4. CORPORATE DEBT FINANCING
- A brief description of debt securities, their characteristics, and how they function.
- A description of the features and details of corporate debt and the Canada Yield Price measurement used in determination of redemption prices.
6. CONVERTIBLE DEBT TABLE, BY ISSUER
- Table of outstanding issues of convertible debt, including conversion basis, conversion price, stock symbol and stock exchange listings. Listed alphabetically, by issuer.
7. RETRACTABLE DEBT TABLE, BY ISSUER
- Table of outstanding issues of retractable debt, including retraction date and retraction price. Listed alphabetically, by issuer.
8. EXCHANGEABLE DEBT TABLE, BY ISSUER
- Table of outstanding issues of exchangeable debt, including exchange basis, exchange price, stock symbol and stock exchange listings. Listed alphabetically, by issuer.
9. EXTENDIBLE DEBT TABLE, BY ISSUER
- Table of outstanding issues of extendible debt, including exercise date and maturity option. Listed alphabetically, by issuer.
10. ASSET-BACKED SECURITIES, BY ISSUER
- Table of asset-backed securities. Listed alphabetically, by issuer.
11. DBRS RATINGS SCALE: CORPORATE BONDS DESCRIPTION
12. DBRS CORPORATE DEBT RATINGS TABLE, BY ISSUER
- As supplied by Dominion Bond Rating Service Limited, in table format. Listed alphabetically by issuer.
13. DBRS CORPORATE DEBT RATINGS TABLE, BY RATING
- As supplied by Dominion Bond Rating Service Limited, in table format. Listed by rating.
14. COMPANIES REFERENCED
- List of companies showing both current and previous corporate names.
15. CORPORATE FUNDED DEBT DETAILS
- A detailed description of their features