CIBC On the Week Ahead In Economics

In Canada, CIBC says, the release Wednesday of both Manufacturing and Wholesale data for February should confirm the sharp rebounds already signaled by the advance estimates. For Manufacturing Shipments, CIBC is forecasting a 3.5% monthly gain, compared to a consensus 3.8%. For Wholesale Sales ex-petroleum CIBC sees a 2.5% rise.

However, CIBC adds, housing starts figures for March on Friday are likely to show building activity still

tracking a lower level than the 2025 average. CIBC estimates 204k versus a consensus 250k.

Also on the CIBC calendar for next week are the release of Building Permits for February on Monday and then the auction of $3 billion in 30-YR CANADAS on Wednesday and auction of $5.5 billion in 2-YR CANADAS on Thursday.

Thursday will see the release of March Existing Home Sales and Friday will bring February Int'l Security Transactions.

Price: $143.21, Change: $+1.62, Percent Change: +1.14%

Ovintiv Closes US$3 Billion Anadarko Asset Sale; Set to Redeem US$700 Million Notes

Ovintiv (OVV.TO) after trade on Thursday said it completed the all-cash sale of its Anadarko assets in Oklahoma for US$3 billion, with proceeds of about US$2.85 billion after adjustments.Chief Executive Brendan McCracken said the deal completes the transformation of the company's portfolio and balance sheet. "Proceeds from the sale will go to debt reduction, marking the achievement of our debt target and unlocking returns for our shareholders."The company added that it will redeem its entire US$700 million of 5.650% notes due 2028, with the redemption set for April 20.

$OVV.TO

Nexus Industrial REIT Seeking $500 Million in a Private Placement of Unsecured Debentures

Nexus Industrial REIT (NXR-UN.TO) after trade Thursday priced a private-placement offering of $500 million of senior unsecured debentures.The REIT said the offering consists of $300 million of Series A Debentures maturing April 14, 2029, carrying a 4.236% annual interest rate, and $200 million Series B Debentures maturing April 14, 2031, paying 4.641% yearly. The debentures are being offered on a private placement basis in each of the provinces of Canada by a syndicate of agents."We are very pleased to announce the successful pricing of Nexus' inaugural debenture offering, with an expected credit rating of BBB (low) with a Stable trend from Morningstar DBRS," said chief executive Kelly Hanczyk. "The expected investment grade rating of our first Debentures reflects our execution on the REIT's long-term, strategic plans and helps position the REIT for future flexibility."The REIT intends to use the net proceeds from the offering to repay existing indebtedness and for general trust purposes. The closing is expected to take place on or about April 14.Nexus units closed up $0.04 to $7.78 on the Toronto Stock Exchange.

$NXR-UN.TO

CIBC On the Week Ahead In Economics

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Ovintiv Closes US$3 Billion Anadarko Asset Sale; Set to Redeem US$700 Million Notes

Nexus Industrial REIT Seeking $500 Million in a Private Placement of Unsecured Debentures

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