By Cristal Cody
Prospect News, April 28 - The Province of Ontario (Aa1/AA-//DBRS: AA) sold C$750 million in a reopening of its 4% benchmark notes due June 2, 2021 at 99.407 to yield 4.072% on Thursday, an informed source said.
The notes priced at a spread of 73 basis points over the Government of Canada benchmark.
National Bank Financial Inc. was the lead manager.
The province previously reopened the issue on April 12 to sell C$750 million of the notes at a spread of 70.5 bps over the government benchmark. The total outstanding now is C$3.75 billion.
Issuer: | Province of Ontario
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Amount: | C$750 million reopening
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Maturity: | June 2, 2021
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Securities: | Benchmark notes
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Bookrunner: | National Bank Financial Inc.
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Coupon: | 4%
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Price: | 99.407
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Yield: | 4.072%
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Spread: | 73 bps over Government of Canada benchmark
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Pricing date: | April 28
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Settlement date: | May 3
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Ratings: | Moody's: Aa1
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| Standard & Poor's: AA-
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| DBRS: AA
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Distribution: | Canada
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