Capital Markets

Casgrain is known for providing debt issuers with independent, insightful, and strategic thinking. The Capital Markets team works hand-in-hand with borrowing entities throughout Canada.

 

Casgrain regularly produces "The Provincial Insider" which looks at current borrowing conditions for Canadian provinces.

The Provincial Letter

Casgrain has the distinct honor of being one of a selective group of financial firms aiding in the financing needs of all Canadian provinces and numerous municipal entities. As such, Casgrain’s reach spans across the country.

Government Financing

Capital Markets

In the case of government and corporate clients, Casgrain has aided issuers through:

Innovation

Management

Costs

Bringing forth innovation in new products and financial strategies.

Treasury Management

Reducing the overall debt servicing costs.

Corporate Financing

Casgrain has, throughout the years, forged strong relationships with a number of corporations which, in recognition of the value brought forth by our firm, have opted to include Casgrain in their bond syndicates. Casgrain’s list of corporate issuing clients spans across the country and in various sectors of the economy.

In the case of both government and corporate clients, Casgrain earns participation by sharing thoughts on:

Appropriate financing structure

 
 

Structured Financing

Following the onset of the credit crisis in Canada and the Asset Backed Commercial Paper (‘’ABCP’’) standstill in August 2007, Casgrain brought ‘advisory‘ services to numerous clients that held third party ABCP. Further to this advisory role, Casgrain became a ‘trader’ of these structured notes, Master Asset Vehicles (or ‘’MAV’’), so as to assist several noteholders in Canada unwind their MAV holdings.  Both of these roles (advisory and trading) were possible due to Casgrain’s objectivity, its focused expertise and its solid reputation in the Canadian debt capital markets. 

Asset Backed Commercial Paper "ABCP"

Structured Financing

Commercial Mortgage Backed Securities "CMBS"

Structured Financing

In 2012, Casgrain commenced its foray into the commercial real estate securitization sector by earning the title of lead structuring agent on its first CMBS issue.  Since that time, Casgrain has been awarded similar such mandates and has played a role in the selling group of multiple Canadian CMBS conduits.      

Casgrain is committed to the sector and continues to seek opportunities to grow its footprint.

National Housing Act Mortgage-Backed Securities "NHA MBS"

In 2014, Casgrain entered the NHA MBS space by placing newly issued non-syndicated NHA MBS pools (both 975s and 980s) with various institutional investors. Casgrain also trades these pools in the secondary market and makes markets in such securities.

Moreover, Casgrain has recently embarked on an investor education process across the country to further develop and expand the market with respect to both NHA MBS issuers and investors.

Casgrain seeks to further develop the sector and believes that market NHA MBS issuance will grow further in the future.

Project Financing

Casgrain has participated as bond underwriter or agent in numerous project financings across Canada since 2009.

Casgrain has exerted much effort over the years to build strong relationships with all market participants (Bond Investors, Equity Providers, Government Authorities...). In order to foster these relationships, Casgrain:

Provides regular spread indications to the investment community