Which of the following examples does not represent a transaction risk exposure?

A$.$ An MNE in Spain has provided a CAD loan to its Canadian subsidiary. The latter will repay the loan in $18$ monthly instalments.

B$.$ A Canadian investor bought USD bonds maturing in $10$ years.

C$.$ A Canadian company signed a forward contract with a maturity in $90$ days to protect a EUR$/$USD exchange rate of $1\mathrm{.}1050.$

D$.$ A portfolio manager maintains bank accounts in the majore currencies to reduce his foreign exchange risk exposure.