La Caisse Centrale Desjardins du Quebec plans to issue the first covered bonds under a program that it registered with the Canadian government in January, according to a presale report published by Moody's Investors Service.  

The presale report indicates that the offering, which would also be the first Canadian covered bond to be issued in 2014, has yet to be sized. Moody's has assigned preliminary a ‘Aaa’ rating to the initial Series CBL1 bonds. Caisse Centrale may issue up to €5 billion under its program.

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