By Andrea Heisinger
New York, Oct. 20 - Export Development Canada sold $1 billion of 1.25% five-year global bonds on Wednesday to yield Treasuries plus 21.2 basis points, a syndicate source away from the sale said.
The offering was talked in the area of mid-swaps minus 3 bps, a source said early in the day.
The bonds (Aaa/AAA/) priced at 99.85 to yield 1.281%. They are non-callable and guaranteed by the government of Canada.
Bank of America Merrill Lynch, HSBC Securities (USA) Inc., RBC Capital Markets Corp. and RBS Securities Inc. were the bookrunners.
Co-managers were Barclays Capital Inc., BNP Paribas Securities Corp., CIBC World Markets, Citigroup Global Markets Inc., Credit Suisse Securities (USA) Inc., Deutsche Bank Securities Inc., Mizuho International plc, Morgan Stanley & Co. International plc, Scotia Capital (USA) Inc. and Toronto-Dominion Bank.
Proceeds will be used for general corporate purposes.
The issuer provides funding for the export industry in Canada and is based in Ottawa.
| Issuer: | Export Development Canada
|
| Guarantor: | Government of Canada
|
| Issue: | Global bonds
|
| Amount: | $1 billion
|
| Maturity: | Oct. 27, 2015
|
| Bookrunners: | Bank of America Merrill Lynch, HSBC Securities USA Inc., RBC Capital Markets Corp., RBS Securities Inc.
|
| Co-managers: | Barclays Capital Inc., BNP Paribas Securities Corp., CIBC World Markets, Citigroup Global Markets Inc., Credit Suisse Securities (USA) Inc., Deutsche Bank Securities Inc., Mizuho International plc, Morgan Stanley & Co. International plc, Scotia Capital (USA) Inc., Toronto-Dominion Bank
|
| Coupon: | 1.25%
|
| Price: | 99.85
|
| Yield: | 1.281%
|
| Spread: | Treasuries plus 21.2 bps
|
| Call: | Non-callable
|
| Trade date: | Oct. 20
|
| Settlement date: | Oct. 27
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Price talk: | Mid-swaps minus 3 bps
|
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