Equitable Bank Strengthens Funding Strategy with €500 Million Covered Bond Issuance

Equitable Group ( (TSE:EQB) ) just unveiled an update.

Equitable Bank has successfully issued €500 million in covered bonds as part of its Global Legislative Covered Bond Programme, marking its sixth issuance since 2021. This move is a strategic part of the bank’s funding diversification strategy, aimed at driving change in Canadian banking. The bonds, rated Aa1 by Moody’s and AA+ by Fitch, are considered the most cost-effective wholesale funding available to the bank, potentially enhancing its market positioning and operational efficiency.

The most recent analyst rating on (TSE:EQB) stock is a Buy with a C$105.00 price target. To see the full list of analyst forecasts on Equitable Group stock, see the TSE:EQB Stock Forecast page.

More about Equitable Group

Equitable Bank, known as Canada’s Challenger Bank™, is the seventh largest bank by assets in Canada. It focuses on leveraging technology to provide exceptional personal and commercial banking services to over 742,000 customers and more than six million credit union members. It is a wholly owned subsidiary of EQB Inc., a leading digital financial services company with $134 billion in combined assets under management and administration. Equitable Bank is recognized as one of the top banks in Canada on the Forbes World’s Best Banks list since 2021.

Average Trading Volume: 91,804

Technical Sentiment Signal: Buy

Current Market Cap: C$3.52B

For detailed information about EQB stock, go to TipRanks’ Stock Analysis page.