By Cristal Cody
Tupelo, Miss., April 16 – Equitable Bank closed on a new C$150 million offering of two-year deposit notes that priced with a spread of 160 basis points over the Government of Canada benchmark bond, according to a press release on Tuesday.
The notes (DBRS: BBB) are due April 16, 2021.
CIBC World Markets Inc. and RBC Dominion Securities Inc. were the lead managers.
The offering had 25 investors that participated in the deal.
Additional pricing terms were not immediately available.
Equitable Bank, a Toronto-based financial services company, is a subsidiary of Equitable Group Inc.
| Issuer: | Equitable Bank
|
| Amount: | C$150 million
|
| Maturity: | April 16, 2021
|
| Securities: | Deposit notes
|
| Bookrunners: | CIBC World Markets Inc. and RBC Dominion Securities Inc.
|
| Co-managers: | BMO Nesbitt Burns Inc., National Bank Financial Inc., Scotia Capital Inc. and TD Securities Inc.
|
| Spread: | Government of Canada benchmark bond plus 160 bps
|
| Announcement date: | April 16
|
| Rating: | DBRS: BBB
|
| Distribution: | Canada
|
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