By Cristal Cody
Prospect News, Nov. 14 - The Province of Ontario (Aa2/AA-/DBRS: AA) priced C$750 million in a reopening of its 2.85% bonds due June 2, 2023 at 100.171 to yield 2.831% on Wednesday, an informed source said.
The bonds priced at a spread of 100 basis points over the Government of Canada benchmark.
National Bank Financial Inc. was the lead manager.
The notes are non-callable.
The province first sold the issue on Nov. 1 in a C$500 million offering at 99.736 to yield 2.879%, or a spread of 97.5 bps over the Government of Canada benchmark. The total outstanding is C$1.25 billion.
| Issuer: | Province of Ontario
|
| Amount: | C$750 million reopening
|
| Maturity: | June 2, 2023
|
| Securities: | Bonds
|
| Bookrunner: | National Bank Financial Inc.
|
| Coupon: | 2.85%
|
| Price: | 100.171
|
| Yield: | 2.831%
|
| Spread: | 100 bps over Government of Canada benchmark
|
| Call feature: | Non-callable
|
| Pricing date: | Nov. 14
|
| Settlement date: | Nov. 19
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA-
|
| DBRS: AA
|
| Distribution: | Canada
|
| Total outstanding: | C$1.25 billion
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
