By Cristal Cody
Prospect News, April 3 - The Municipal Finance Authority of British Columbia sold C$125 million of 3.35% debentures due June 1, 2022 at 99.883 to yield 3.364% on Tuesday, an informed bond source said.
The debentures (Aaa/AAA/AAA) priced at a spread of 114.5 basis points over the Government of Canada benchmark.
The issue is non-callable.
Additional pricing details were not available.
The finance authority was last in the domestic market on Oct. 4 with a reopening of the 4.15% notes due 2021. The authority sold C$105 million in an add-on at 108.37 to yield 3.175%, or a spread of 117 bps over the Canadian government benchmark.
The Victoria, B.C.-based authority borrows funds on behalf of municipalities in British Columbia.
| Issuer: | Municipal Finance Authority of British Columbia
|
| Amount: | C$125 million
|
| Maturity: | June 1, 2022
|
| Securities: | Debentures
|
| Coupon: | 3.35%
|
| Price: | 99.883
|
| Yield: | 3.364%
|
| Spread: | 114.5 bps over Government of Canada benchmark
|
| Call feature: | Non-callable
|
| Pricing date: | April 3
|
| Settlement date: | April 11
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Fitch: AAA
|
| Distribution: | Canada
|
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