By Cristal Cody
Prospect News, Oct. 25 - The Province of Ontario (Aa2/AA-/DBRS: AA) sold C$1 billion in a reopening of its 1.9% five-year bonds on Thursday at 99.672 to yield 1.971%, an informed source said.
The notes due Sept. 8, 2017 priced at a spread of 52.5 basis points over the Government of Canada benchmark.
BMO Capital Markets Corp. was the lead manager.
The province first sold the issue on Jan. 17, 2012 in a C$1.25 billion offering at 99.744 to yield 1.948%, or a spread of 58.5 bps over the government benchmark. The issue was last reopened on Feb. 23, 2012 in a C$1 billion offering. The total outstanding is C$3.25 billion.
| Issuer: | Province of Ontario
|
| Amount: | C$1 billion reopening
|
| Maturity: | Sept. 8, 2017
|
| Securities: | Bonds
|
| Bookrunner: | BMO Capital Markets Corp.
|
| Coupon: | 1.9%
|
| Price: | 99.672
|
| Yield: | 1.971%
|
| Spread: | 52.5 bps over Government of Canada benchmark
|
| Pricing date: | Oct. 25
|
| Settlement date: | Oct. 30
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA-
|
| DBRS: AA
|
| Distribution: | Canada
|
| Total outstanding: | C$3.25 billion
|
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