By Cristal Cody
Prospect News, July 27 - Export Development Canada (Aaa/AAA//) priced an upsized A$750 million of 3.25% five-year bonds at 99.021 to yield 3.465% on Friday, an informed bond source said.
The bonds due Aug. 8, 2017 priced in line with guidance at a spread of the three-month bank bill swap rate plus 21 basis points, or 103 bps over the Aussie government benchmark.
The deal was launched at A$300 million on Thursday.
TD Securities Inc., Citigroup Global Markets Inc. and Commonwealth Bank of Australia were the lead managers.
Ottawa-based Export Development Canada provides financing, insurance and risk management to Canadian exporters and investors.
| Issuer: | Export Development Canada
|
| Amount: | A$750 million
|
| Maturity: | Aug. 8, 2017
|
| Securities: | Bonds
|
| Bookrunners: | TD Securities Inc., Citigroup Global Markets Inc., Commonwealth Bank of Australia
|
| Coupon: | 3.25%
|
| Price: | 99.021
|
| Yield: | 3.465%
|
| Spread: | Three-month bank bill swap rate plus 21 bps, or 103 bps over Aussie government benchmark
|
| Pricing date: | July 27
|
| Settlement date: | Aug. 8
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Distribution: | Australia
|
| Price talk: | Three-month bank bill swap rate plus 21 bps
|
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