Canadian debt issuance has been a bit weaker this year, but the value of equity offerings is up, according to new data from LSEG Data & Analytics.
In a new report, the firm said total equity issuance rose 24% to $14.7 billion through the first nine months of the year. Deal volume was also higher, up 34% year over year.
The materials sector led the way, accounting for 41.6% of total equity issuance, followed by the energy and power sector at 30.3%.
RBC Capital Markets ranked first in several Canadian equity league tables, LSEG said, while CIBC World Markets topped the rankings for preferred securities and Canaccord Genuity led in retail structured products.
CIBC also ranked second to RBC in the overall league tables, followed by National Bank Financial, BMO Capital Markets and Scotiabank.
While equity issuance picked up this year, total debt issuance was relatively flat at $216 billion for the first nine months of 2025, down 2% from the same period in 2024. Deal volume was down 5% on the debt side, LSEG noted.
RBC also ranked first in the overall debt league tables and for domestic corporate debt. BMO led in government debt and placed second overall, followed by TD Securities, CIBC and Scotiabank.