By Cristal Cody
Prospect News, Nov. 29 - The Province of Ontario (Aa1/AA-/DBRS: AA) sold C$1 billion in a reopening of its 4.65% benchmark bonds due June 2, 2041 at 116.632 to yield 3.717% on Tuesday, a bond source said.
The bonds priced at a spread of 99.5 basis points over the Government of Canada benchmark.
TD Securities Inc. was the lead manager.
The province last reopened the issue on Oct. 12 with the offering of C$750 million priced at 114.273 to yield 3.839%, or a spread of 98.5 bps over the Government of Canada benchmark.
| Issuer: | Province of Ontario
|
| Amount: | C$1 billion reopening
|
| Maturity: | June 2, 2041
|
| Securities: | Benchmark bonds
|
| Bookrunner: | TD Securities Inc.
|
| Coupon: | 4.65%
|
| Price: | 116.632
|
| Yield: | 3.717%
|
| Spread: | 99.5 bps over Government of Canada benchmark
|
| Pricing date: | Nov. 29
|
| Settlement date: | Dec. 2
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA-
|
| DBRS: AA
|
| Distribution: | Canada
|
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