By Cristal Cody
Prospect News, April 4 - Additional details of Municipal Finance Authority of British Columbia's sale of C$125 million of 3.35% 10-year debentures emerged on Wednesday.
The authority priced the debentures due June 1, 2022 (Aaa/AAA/AAA) on Tuesday at 99.883 to yield 3.364%, or a spread of 114.5 basis points over the Government of Canada benchmark.
National Bank Financial Inc. was the lead manager. Co-managers were RBC Capital Markets Corp., Scotia Capital Inc. and CIBC World Markets Inc.
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
|
| Bookrunner: | National Bank Financial Inc.
|
| Co-managers: | RBC Capital Markets Corp., Scotia Capital Inc., CIBC World Markets Inc.
|
| 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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