Published on 3/21/2013 in the Prospect News Canadian Bonds Daily and Prospect News Investment Grade Daily.
New Issue: Manitoba prices $500 million of 1.125% five-year debentures at mid-swaps plus 12 bps
By Andrea Heisinger
New York, March 21- The Province of Manitoba priced $500 million of 1.125% five-year global debentures (Aa1/AA/) at mid-swaps plus 12 basis points, or Treasuries plus 35.5 bps, according to an FWP filing with the Securities and Exchange Commission.
The non-callable bonds priced at 99.9 to yield 1.145%.
Bookrunners were CIBC World Markets Corp., HSBC Securities (USA) Inc., National Bank of Canada Financial and RBC Capital Markets LLC.
Proceeds will be used for advances to the Manitoba Hydro Electric Board and for general government programs.
| Issuer: | Province of Manitoba
|
| Issue: | Global debentures
|
| Amount: | $500 million
|
| Maturity: | June 1, 2018
|
| Bookrunners: | CIBC World Markets Corp., HSBC Securities (USA) Inc., National Bank of Canada Financial, RBC Capital Markets LLC
|
| Co-managers: | Scotia Capital (USA) Inc., TD Securities (USA) LLC, BMO Capital Markets Corp., Casgrain & Co. Ltd.
|
| Coupon: | 1.125%
|
| Price: | 99.9
|
| Yield | 1.145%
|
| Spread: | Mid-swaps plus 12 bps, Treasuries plus 35.5 bps
|
| Call: | Non-callable
|
| Trade date: | March 21
|
| Settlement date: | April 2
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA
|
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