By Cristal Cody
Prospect News, April 19 - The Province of Ontario (Aa1/AA-/DBRS: AA) sold C$600 million in a reopening of its 4.65% bonds due June 2, 2041 at 102.223 to yield 4.514% on Tuesday, an informed source said.
The bonds priced at a spread of 80.5 basis points over the Government of Canada benchmark.
TD Securities Inc. was the lead manager.
The province previously reopened the issue in an add-on of C$600 million sold on March 4 at a spread of 79 bps over. The total outstanding now is C$6.75 billion.
| Issuer: | Province of Ontario
|
| Amount: | C$600 million reopening
|
| Maturity: | June 2, 2041
|
| Securities: | Bonds
|
| Bookrunner: | TD Securities Inc.
|
| Coupon: | 4.65%
|
| Price: | 102.223
|
| Yield: | 4.514%
|
| Spread: | 80.5 bps over Government of Canada benchmark
|
| Pricing date: | April 19
|
| Settlement date: | April 25
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA-
|
| DBRS: AA
|
| Distribution: | Canada
|
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