By Cristal Cody
Tupelo, Miss., May 6 - GrandLinq GP priced C$103 million of 4.771% senior secured bonds at par on Tuesday in a private placement offering, according to a market source.
The bonds (/BBB+/) priced with a spread of 195 basis points versus the interpolated Government of Canada bond curve.
The amortizing bonds are due March 31, 2047 and have a weighted average life of May 20, 2034.
CIBC World Markets Inc. was the bookrunner.
GrandLinq is a special purpose entity that will design, finance, build, operate and maintain part of the Regional Municipality of Waterloo's light rail transit system project.
| Issuer: | GrandLinq GP
|
| Issue: | Senior secured bonds
|
| Amount: | C$103 million
|
| Maturity: | March 31, 2047
|
| Weighted average life: | May 20, 2034
|
| Bookrunner: | CIBC World Markets Inc.
|
| Coupon: | 4.771%
|
| Price: | Par
|
| Yield: | 4.771%
|
| Spread: | 195 bps over interpolated Government of Canada bond curve
|
| Pricing date: | May 6
|
| Ratings: Standard & Poor's: BBB+
|
| Distribution: | Canada private placement
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
