By Cristal Cody
Tupelo, Miss., Feb. 26 – Great-West Lifeco Inc. priced C$500 million of 3.337% 10-year debentures (A+//DBRS: A) on Monday at par to yield 107 basis points over the interpolated Government of Canada bond curve, according to a market source.
BMO Nesbitt Burns Inc. and RBC Dominion Securities Inc. were the lead managers.
Great-West Lifeco last tapped the Canadian high-grade bond market in 2010, the source said.
The insurance and financial services holding company is based in Winnipeg, Man.
| Issuer: | Great-West Lifeco Inc.
|
| Amount: | C$500 million
|
| Description: | Debentures
|
| Maturity: | Feb. 28. 2028
|
| Bookrunners: | BMO Nesbitt Burns Inc. and RBC Dominion Securities Inc.
|
| Coupon: | 3.337%
|
| Price: | Par
|
| Yield: | 3.337%
|
| Spread: | 107 bps over interpolated Government of Canada bond curve
|
| Trade date: | Feb. 26
|
| Settlement date: | Feb. 28
|
| Ratings: | S&P: A+
|
| DBRS: A
|
| Distribution: | Canada
|
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