By Cristal Cody
Prospect News, Sept. 1 - The Province of Ontario (Aa1/AA-/DBRS: AA) raised C$750 million in a reopening of its 4% benchmark notes due June 2, 2021 at 105.409 to yield 3.344% on Thursday, an informed bond source said.
The notes priced at a spread of 89 basis points over the Government of Canada benchmark.
CIBC World Markets Inc. was the lead manager.
The issue was previously reopened on Aug. 12 in a C$750 million add-on priced at 105.916 to yield 3.288%, or a spread of 85 bps over the Government of Canada benchmark.
The issue now has a total of C$7.5 billion outstanding.
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: | CIBC World Markets Inc.
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Coupon: | 4%
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Price: | 105.409
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Yield: | 3.344%
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Spread: | 89 bps over Government of Canada benchmark
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Pricing date: | Sept. 1
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Settlement date: | Sept. 7
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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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