Published on 1/26/2012 in the Prospect News Canadian Bonds Daily.
New Issue: Ontario sells C$600 million 3.5% bonds due 2043 at 88 bps spread
By Cristal Cody
Prospect News, Jan. 26 - The Province of Ontario (Aa1/AA-/DBRS: AA) priced C$600 million 3.5% bonds due June 2, 2043 at 99.187 to yield 3.543% on Thursday, a bond source said.
The bonds came at a spread of 88 basis points over the Government of Canada benchmark.
CIBC World Markets Inc. was the lead manager.
RBC Capital Markets Corp., TD Securities Inc., BMO Capital Markets Corp., National Bank Financial Inc., Scotia Capital Inc. and Merrill Lynch Canada Inc. were the co-managers.
Issuer: | Province of Ontario
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Amount: | C$600 million
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Maturity: | June 2, 2043
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Securities: | Bonds
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Bookrunner: | CIBC World Markets Inc.
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Co-managers: | RBC Capital Markets Corp., TD Securities Inc., BMO Capital Markets Corp., National Bank Financial Inc., Scotia Capital Inc., Merrill Lynch Canada Inc.
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Coupon: | 3.5%
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Price: | 99.187
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Yield: | 3.543%
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Spread: | 88 bps over Government of Canada benchmark
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Call feature: | Non-callable
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Pricing date: | Jan. 26
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Settlement date: | Jan. 31
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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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