Published on 6/12/2012 in the Prospect News Canadian Bonds Daily and Prospect News Investment Grade Daily.
New Issue: Export Development Canada sells $1 billion of 0.5% three-year notes at mid-swaps minus 18 bps
By Andrea Heisinger
New York, June 12 - Export Development Canada sold $1 billion of 0.5% three-year notes on Tuesday at a spread of mid-swaps minus 18 basis points, or Treasuries plus 14.15 bps, according to a source away from the trade and an FWP filing with the Securities and Exchange Commission.
The non-callable securities (Aaa/AAA/AAA) were priced at 99.949 to yield 0.516%.
Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC and TD Securities (USA) LLC were bookrunners.
Co-managers were Barclays Bank plc, BNP Paribas Securities Corp., CIBC World Markets Corp., Citigroup Global Markets Inc., Credit Suisse Securities (Europe) Ltd., Daiwa Capital Markets Europe Ltd., Goldman Sachs International, Merrill Lynch, Pierce, Fenner & Smith Inc., Mizuho International plc, Morgan Stanley & Co. International plc, RBC Capital Markets, LLC, RBS Securities Inc., Scotia Capital (USA) Inc. and SG Americas Securities, LLC.
The deal was announced on Monday.
Proceeds are being used for general corporate purposes.
The government-backed agency for exporters is based in Ottawa.
| Issuer: | Export Development Canada
|
| Issue: | Notes
|
| Amount: | $1 billion
|
| Maturity: | Sept. 15, 2015
|
| Coupon: | 0.5%
|
| Price: | 99.949
|
| Yield: | 0.516%
|
| Spread: | Mid-swaps minus 18 bps, Treasuries plus 14.15 bps
|
| Call: | Non-callable
|
| Bookrunners: | Deutsche Bank Securities Inc., HSBC Securities (USA) Inc., J.P. Morgan Securities LLC, TD Securities (USA) LLC
|
| Co-managers: | Barclays Bank plc, BNP Paribas Securities Corp., CIBC World Markets Corp., Citigroup Global Markets Inc., Credit Suisse Securities (Europe) Ltd., Daiwa Capital Markets Europe Ltd., Goldman Sachs International, Merrill Lynch, Pierce, Fenner & Smith Inc., Mizuho International plc, Morgan Stanley & Co. International plc, RBC Capital Markets, LLC, RBS Securities Inc., Scotia Capital (USA) Inc., SG Americas Securities, LLC
|
| Trade date: | June 12
|
| Settlement date: | June 19
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
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