Canada Housing Trust, the financing arm of Canada’s housing agency, sold 27% of its debt offering this week to investors outside Canada, suggesting growing international appetite for Canadian debt. Canada Housing sold $6bn of five-year, 2.95% bonds maturing in March 2015 with a price to yield 18bps above Canada’s 2.5% bonds maturing in June 2015. That’s the tightest spread in more than two years, according to Mark Chamie, Canada Mortgage and Housing’s treasurer in Ottawa. “Canadian fundamentals are very strong relative to other global economies,” said Chamie, adding that foreign purchases of Canada mortgage bonds averaged 23% of each offering last year. The fundamentals are “allowing us to price at the tightest level since September 2007.”

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