By Cristal Cody
Prospect News, May 11 - The Province of Ontario (Aa1/AA-//DBRS: AA) sold C$600 million in a reopening of its 4.65% benchmark bonds due June 2, 2041 at 102.706 to yield 4.485% on Wednesday, an informed bond source said.
The bonds priced at a spread of 84.5 basis points over the Government of Canada benchmark.
RBC Capital Markets corp. was the bookrunner.
The issue previously was reopened on April 19, with the sale of C$600 million priced at 80.5 bps. The total outstanding now is C$7.35 billion.
| Issuer: | Province of Ontario
|
| Amount: | C$600 million reopening
|
| Maturity: | June 2, 2041
|
| Securities: | Benchmark bonds
|
| Bookrunner: | RBC Capital Markets corp.
|
| Coupon: | 4.65%
|
| Price: | 102.706
|
| Yield: | 4.485%
|
| Spread: | 84.5 bps over Government of Canada benchmark
|
| Pricing date: | May 11
|
| Settlement date: | May 16
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA-
|
| DBRS: AA
|
| Distribution: | Canada
|
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