Ontario Drops American Banks From US-Dollar 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.