By Cristal Cody
Prospect News, Dec. 23 - The Province of Ontario (Aa1/AA-/DBRS: AA) sold C$1 billion in a reopening of the 3.15% notes due June 2, 2022 at 102.138 to yield 2.911%, according to a bond source on Friday.
The province priced the notes at a spread of 93 basis points over the Government of Canada benchmark.
Half of the deal was sold into one account on a specific reverse inquiry and the rest was publicly syndicated, the source said.
National Bank Financial Inc. was the lead manager.
The issue originally priced on Nov. 3 in a C$750 million offering at 99.589 to yield 3.196%, or a spread of 87 bps over the government benchmark.
| Issuer: | Province of Ontario
|
| Amount: | C$1 billion reopening
|
| Maturity: | June 2, 2022
|
| Securities: | Notes
|
| Bookrunner: | National Bank Financial Inc.
|
| Coupon: | 3.15%
|
| Price: | 102.138
|
| Yield: | 2.911%
|
| Spread: | 93 bps over Government of Canada benchmark
|
| Pricing date: | Dec. 19
|
| Settlement date: | Dec. 22
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA-
|
| DBRS: AA
|
| Distribution: | Canada
|
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