By Cristal Cody
Prospect News, June 22 - 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 102.122 to yield 3.742% on Wednesday, an informed source said.
The notes priced at a spread of 77.5 basis points over the Government of Canada benchmark.
CIBC World Markets Inc. was the lead manager.
The issue now has a total outstanding of C$5.25 billion.
| Issuer: | Province of Ontario
|
| Amount: | C$750 million reopening
|
| Maturity: | June 2, 2021
|
| Securities: | Benchmark notes
|
| Bookrunner: | CIBC World Markets Inc.
|
| Coupon: | 4%
|
| Price: | 102.122
|
| Yield: | 3.742%
|
| Spread: | 77.5 bps over Government of Canada benchmark
|
| Pricing date: | June 22
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA-
|
| DBRS: AA
|
| Distribution: | Canada
|
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