By Cristal Cody
Prospect News, March 25 - The Province of Manitoba (Aa1/AA/DBRS: A) sold C$400 million in reopening of its 4.1% benchmark bonds due March 5, 2041 at 94.746 to yield 4.418% on Friday, a source said.
The bonds priced at a spread of 73.5 basis points over the Government of Canada benchmark.
CIBC World Markets Inc. was the lead manager.
The issue was reopened last on Jan. 21, with an add-on of C$250 million sold at a spread of 79.5 bps. The total outstanding is now C$950 million.
| Issuer: | Province of Manitoba
|
| Amount: | C$400 million reopening
|
| Maturity: | March 5, 2041
|
| Securities: | Benchmark bonds
|
| Bookrunner: | CIBC World Markets Inc.
|
| Coupon: | 4.1%
|
| Price: | 94.746
|
| Yield: | 4.418%
|
| Spread: | 73.5 bps over Government of Canada benchmark
|
| Pricing date: | March 25
|
| Settlement date: | April 1
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA
|
| DBRS: A
|
| Distribution: | Canada
|
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