By Cristal Cody
Prospect News, March 1 - British Columbia Investment Management Corp. real estate holding company bcIMC Realty Corp. sold C$500 million of 2.96% seven-year senior medium-term notes at 99.972 to yield 2.966% on Thursday, a bond source said.
The series 8 notes due March 7, 2019 (DBRS: AA) priced at a spread of 135.2 basis points over the Government of Canada benchmark.
RBC Capital Markets Corp. was the lead manager. Co-managers were CIBC World Markets Inc. and Scotia Capital Inc.
Proceeds will be used to repay debt and for general corporate purposes.
British Columbia Investment Management is owned by the Province of British Columbia and provides investment management services to public-sector pension plans and other public-sector clients.
| Issuer: | bcIMC Realty Corp.
|
| Amount: | C$500 million
|
| Maturity: | March 7, 2019
|
| Securities: | Senior medium-term notes
|
| Bookrunner: | RBC Capital Markets Corp.
|
| Co-managers: | CIBC World Markets Inc., Scotia Capital Inc.
|
| Coupon: | 2.96%
|
| Price: | 99.972
|
| Yield: | 2.966%
|
| Spread: | 135.2 bps over Government of Canada benchmark
|
| Pricing date: | March 1
|
| Settlement date: | March 7
|
| Rating: | DBRS: AA
|
| Distribution: | Canada
|
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