By Cristal Cody
Prospect News, June 27 - John Deere Canada Funding Inc. sold C$250 million of 2.3% four-year senior medium-term notes to yield 2.306% on Wednesday, a bond source said.
The notes due July 5, 2016 (A2//DBRS: A) priced at a spread of 110.6 basis points over the Government of Canada benchmark.
RBC Capital Markets Corp. and TD Securities Inc. were the bookrunners.
The notes are guaranteed by John Deere Capital Corp.
Proceeds will be used for general corporate purposes.
The company is a Canadian financing arm of John Deere Ltd.
| Issuer: | John Deere Canada Funding Inc.
|
| Guarantor: | John Deere Capital Corp.
|
| Amount: | C$250 million
|
| Maturity: | July 5, 2016
|
| Securities: | Medium-term notes
|
| Bookrunners: | RBC Capital Markets Corp., TD Securities Inc.
|
| Coupon: | 2.3%
|
| Yield: | 2.306%
|
| Spread: | 110.6 bps over Government of Canada benchmark
|
| Pricing date: | June 27
|
| Settlement date: | July 3
|
| Ratings: | Moody's: A2
|
| DBRS: A
|
| Distribution: | Canada
|
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