(Bloomberg) -- Chemtrade Logistics and Surge Energy are expected to issue loonie-denominated debt as soon as Wednesday, according to a person familiar with the matter.
Both deals are likely to be around C$200 million ($147 million) with five-year maturities, according to the person, who asked not to be identified as they aren’t authorized to speak about it. Chemtrade held an investor call on Tuesday while Surge will have a similar call Wednesday morning, Bloomberg News previously reported.
The two high-yield offerings will follow last week’s C$400 million deal from ATS Corp., another new name in the junk bond market. These sellers are entering the market at a time when several large high-yield issuers have been upgraded to investment grade, including Videotron, a division of Quebecor Media.
Chemtrade and Surge didn’t respond to requests for comment.
(Updates with addition of third paragraph.)
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