Published on 8/28/2008 in the Prospect News Investment Grade Daily.
New Issue: Province of Ontario prices $1.5 billion 3.125% two-year notes at Treasuries plus 85.5 bps
By Andrea Heisinger
New York, Aug. 28 - The Province of Ontario priced $1.5 billion of 3.125% two-year unsecured notes Thursday to yield Treasuries plus 85.5 basis points, according to an FWP filing with the Securities and Exchange Commission.
The non-callable notes (Aa1/AA/) priced at 99.805, plus accrued interest from Sept. 5 until settlement, to yield 3.266%.
Bookrunners were HSBC Securities (USA) Inc., Merrill Lynch International and RBC Capital Markets Corp. with the syndicate also including CIBC World Markets Corp., National Bank Financial Inc., Scotia Capital (USA) Inc., The Toronto-Dominion Bank, Bank of Montreal, London Branch, Barclays Capital Inc., BNP Paribas Securities Corp., Citigroup Global Markets Inc., Credit Suisse Securities (Europe) Ltd., Deutsche Bank Securities Inc., J.P. Morgan Securities Ltd. and UBS Securities LLC.
Proceeds will be used for general provincial purposes.
| Issuer: | Province of Ontario
|
| Issue: | Unsecured notes
|
| Amount: | $1.5 billion
|
| Maturity: | Sept. 8, 2010
|
| Underwriters: | HSBC Securities (USA) Inc., Merrill Lynch International, RBC Capital Markets Corp. (books), CIBC World Markets Corp., National Bank Financial Inc., Scotia Capital (USA) Inc., The Toronto-Dominion Bank, Bank of Montreal, London Branch, Barclays Capital Inc., BNP Paribas Securities Corp., Citigroup Global Markets Inc., Credit Suisse Securities (Europe) Ltd., Deutsche Bank Securities Inc., J.P. Morgan Securities Ltd., UBS Securities LLC
|
| Coupon: | 3.125%
|
| Price: | 99.805 plus accrued interest from Sept. 5
|
| Yield: | 3.266%
|
| Spread: | Treasuries plus 85.5 bps
|
| Call: | Non-callable
|
| Trade date: | Aug. 28
|
| Settlement date: | Sept. 5
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA
|
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