New Issue: Ontario sells C$1 billion 3.2% 5.5-year notes at 40.5 bps

By Cristal Cody

Prospect News, Feb. 11 - The Province of Ontario (Aa1/AA-//DBRS: AA) sold C$1 billion 3.2% bonds due Sept. 8, 2016 at 99.752 to yield 3.249% on Friday, a source said.

The bonds priced at a spread of 40.5 basis points over the Government of Canada benchmark.

CIBC World Markets Inc. was the lead manager.

Issuer:	Province of Ontario
Amount:	C$1 billion
Maturity:	Sept. 8, 2016
Securities:	Bonds
Bookrunner:	CIBC World Markets Inc.
Coupon:	3.2%
Price:	99.752
Yield:	3.249%
Spread:	40.5 bps over Government of Canada benchmark
Pricing date:	Feb. 11
Settlement date:	Feb. 16
Ratings:	Moody's: Aa1
	Standard & Poor's: AA-
	DBRS: AA
Distribution:	Canada

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