By Cristal Cody
Prospect News, Feb. 8 - Export Development Canada (Aaa/AAA/DBRS: AAA) sold A$500 million of 6% kangaroo bonds due Feb. 18, 2016 at 99.787 to yield 6.05% on Tuesday.
The bonds priced at a spread of 53.25 basis points over the Australia Commonwealth Government benchmark.
Commonwealth Bank of Australia, Deutsche Bank Securities Inc. and RBC Capital Markets Corp. were the bookrunners.
The deal was launched under Export Development Canada's Australian medium-term note program.
Ottawa-based Export Development Canada provides financing, insurance and risk management to Canadian exporters and investors expanding international operations.
| Issuer: | Export Development Canada
|
| Amount: | A$500 million
|
| Maturity: | Feb. 18, 2016
|
| Securities: | Kangaroo bonds
|
| Bookrunners: | Commonwealth Bank of Australia, Deutsche Bank Securities Inc., RBC Capital Markets Corp.
|
| Coupon: | 6%
|
| Price: | 99.787
|
| Yield: | 6.05%
|
| Spread: | 53.25 bps over Australia Commonwealth Government benchmark
|
| Pricing date: | Feb. 8
|
| Settlement date: | Feb. 18
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| DBRS: AAA
|
| Distribution: | Australia
|
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