By Rebecca Melvin
New York, May 29 - The Province of Manitoba sold $300 million of 3.35% 30-year bonds at a spread of 99 basis points over the Canadian benchmark 4% bond due June 2041 on Tuesday, according to a syndicate source.
The debentures due March 5, 2043 (Aa1/AA) priced at 99.501 to yield 3.376%.
BMO Capital Markets Corp. was the lead manager with CIBC World Markets Inc. and RBC Capital Markets Corp. as co-leads.
With the proceeds, Manitoba has now completed about 38% of its long-term 2012-2013 borrowing requirements.
Issuer: | Province of Manitoba
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Amount: | $300 million
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Maturity: | March 5, 2043
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Securities: | Long bonds
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Bookrunners: | BMO Capital Markets Corp.
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C0-managers: | CIBC World Markets Inc., RBC Capital Markets Corp.
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Coupon: | 3.35%
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Price: | 99.501
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Yield: | 3.376%
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Spread: | 99 bps over Canadian benchmark due June 2041
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Pricing date: | May 29
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Settlement date: | June 5
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Ratings: | Moody's: Aa1
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| Standard & Poor's: AA
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