New Issue: Ontario sells C$1.25 billion 1.9% bonds due 2017 at 58.5 bps spread

By Cristal Cody

Prospect News, Jan. 17 - The Province of Ontario (Aa1/AA-/DBRS: AA) sold C$1.25 billion 1.9% bonds due Sept. 8, 2017 at 99.744 to yield 1.948% on Tuesday, according to a bond source.

The bonds priced at a spread of 58.5 basis points over the Government of Canada benchmark.

RBC Capital Markets Corp., BMO Capital Markets Corp. CIBC World Markets Inc., National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc. and Merrill Lynch Canada Inc. managed the deal.

The deal is expected to settle on Jan. 20.

Issuer:	Province of Ontario
Amount:	C$1.25 billion
Maturity:	Sept. 8, 2017
Securities:	Bonds
Bookrunners:	RBC Capital Markets Corp., BMO Capital Markets Corp. CIBC World Markets Inc., National Bank Financial Inc., Scotia Capital Inc., TD Securities Inc., Merrill Lynch Canada Inc.
Coupon:	1.9%
Price:	99.744
Yield:	1.948%
Spread:	58.5 bps over Government of Canada benchmark
Pricing date:	Jan. 17
Settlement date:	Jan. 20
Ratings:	Moody's: Aa1
	Standard & Poor's: AA-
	DBRS: AA
Distribution:	Canada

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