By Cristal Cody
Tupelo, Miss., May 19 – General Motors Financial of Canada Ltd. sold C$500 million of 3.08% five-year senior notes at 99.959 to yield 3.089% on Tuesday, a market source said.
The company priced the notes due May 22, 2020 at a spread of 195 basis points over the interpolated Government of Canada bond curve.
RBC Dominion Securities Inc., BMO Nesbitt Burns Inc. and CIBC World Markets Inc. were the lead managers.
General Motors Financial of Canada is a subsidiary of Detroit-based General Motors Co.
| Issuer: | General Motors Financial of Canada Ltd.
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| Amount: | C$500 million
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| Maturity: | May 22, 2020
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| Securities: | Senior notes
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| Bookrunners: | RBC Dominion Securities Inc., BMO Nesbitt Burns Inc. and CIBC World Markets Inc.
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| Co-managers: | Scotia Capital Inc. and TD Securities Inc.
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| Coupon: | 3.08%
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| Price: | 99.959
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| Yield: | 3.089%
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| Spread: | 195 bps over interpolated Government of Canada bond curve
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| Pricing date: | May 19
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| Settlement date: | May 22
|
| Ratings: | Moody’s: Ba1
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| Standard & Poor’s: BBB-
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| DBRS: BBB
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| Distribution: | Canada
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