By Cristal Cody
Prospect News, Oct. 12 - The Province of Ontario (Aa1/AA-//DBRS: AA) priced C$750 million in a reopening of its 4.65% benchmark bonds due June 2, 2041 at 114.273 to yield 3.839% on Wednesday, a bond source said.
The bonds priced at a spread of 98.5 basis points over the Government of Canada benchmark.
RBC Capital Markets Corp. was the lead manager.
The province last reopened the issue on Sept. 9 in a sale of C$750 million priced at 114.18 to yield 3.845%, or a spread of 92 bps over the Government of Canada benchmark.
| Issuer: | Province of Ontario
|
| Amount: | C$750 million reopening
|
| Maturity: | June 2, 2041
|
| Securities: | Benchmark bonds
|
| Bookrunner: | RBC Capital Markets Corp.
|
| Coupon: | 4.65%
|
| Price: | 114.273
|
| Yield: | 3.839%
|
| Spread: | 98.5 bps over Government of Canada benchmark
|
| Pricing date: | Oct. 12
|
| Settlement date: | Oct. 17
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA-
|
| DBRS: AA
|
| Distribution: | Canada
|
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