By Cristal Cody
Prospect News, Oct. 4 - The Municipal Finance Authority of British Columbia (Aaa/AAA/AAA) raised C$105 million in a reopening of its 4.15% 10-year notes at 108.037 yield 3.175%, on Tuesday, a bond source told Prospect News.
The notes due June 1, 2021 priced at a spread of 117 basis points over the Government of Canada benchmark.
RBC Capital Markets Corp. was the lead manager.
The issue originally priced on March 28 in a C$225 million offering at 99.791 to yield 4.176%, or 80.5 bps over the Canadian government benchmark. The total outstanding is C$330 million.
The Victoria, B.C.-based authority borrows funds on behalf of municipalities in British Columbia.
| Issuer: | Municipal Finance Authority of British Columbia
|
| Amount: | C$105 million reopening
|
| Maturity: | June 1, 2021
|
| Securities: | Notes
|
| Bookrunner: | RBC Capital Markets Corp.
|
| Coupon: | 4.15%
|
| Price: | 108.037
|
| Yield: | 3.175%
|
| Spread: | 117 bps over Government of Canada benchmark
|
| Pricing date: | Oct. 4
|
| Settlement date: | Oct. 12
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Distribution: | Canada
|
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