By Cristal Cody
Prospect News, Dec. 6 - Honda Canada Finance Inc. priced C$400 million of 2.275% five-year senior notes at par in a private placement on Thursday, according to an informed source.
The non-callable notes (A1//DBRS: A) priced at a spread of 101 basis points over the interpolated Government of Canada bond curve.
CIBC World Markets Inc. and RBC Capital Markets were the lead managers.
Honda Canada Finance last brought a bond deal on Feb. 15, 2012 when the company sold C$300 million of three-year floating-rate notes at par, or a spread of 95 bps over CDOR.
The Honda Motor Co., Ltd. affiliate is based in Markham, Ont.
| Issuer: | Honda Canada Finance Inc.
|
| Amount: | C$400 million
|
| Maturity: | Dec. 11, 2017
|
| Securities: | Senior notes
|
| Bookrunners: | CIBC World Markets Inc., RBC Capital Markets
|
| Co-managers: | BMO Capital Markets Corp., TD Securities Inc.
|
| Coupon: | 2.275%
|
| Price: | Par
|
| Yield: | 2.275%
|
| Spread: | 101 bps over interpolated Government of Canada bond curve
|
| Call feature: | Non-callable
|
| Pricing date: | Dec. 6
|
| Settlement date: | Dec. 11
|
| Ratings: | Moody's: A1
|
| DBRS: A
|
| Distribution: | Canada
|
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