By Andrea Heisinger
New York, Aug. 29 - The Province of Manitoba priced $600 million of 2.1% 10-year global debentures on Wednesday to yield Treasuries plus 43.9 basis points, a market source said.
The deal had been announced on Tuesday and went overnight to allow participation from a broader range of investors, the source said.
The securities (Aa1/AA/) were offered at 99.973 to yield 2.103%.
The debentures will be non-callable.
Bookrunners were CIBC World Markets Corp., HSBC Securities (USA) Inc., National Bank of Canada Financial and Scotia Capital (USA) Inc.
Proceeds will be used for advances to Manitoba Hydro and/or for general government programs.
Issuer: | Province of Manitoba
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Issue: | Global debentures
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Amount: | $600 million
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Maturity: | Sept. 6, 2022
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Bookrunners: | CIBC World Markets Corp., HSBC Securities (USA) Inc., National Bank of Canada Financial, Scotia Capital (USA) Inc.
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Coupon: | 2.1%
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Price: | 99.973
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Yield: | 2.103%
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Spread: | Treasuries plus 43.9 bps
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Call: | Non-callable
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Trade date: | Aug. 29
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Settlement date: | Sept. 6
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Ratings: | Moody's: Aa1
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| Standard & Poor's: AA
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