By Cristal Cody
Prospect News, Feb. 23 - Details emerged on Thursday for the Province of Ontario's sale of C$1 billion in a reopening of its 1.9% five-year bonds.
The province (Aa1/AA-/DBRS: AA) priced the bonds due Sept. 8, 2017 at 99.023 to yield 2.088%, or a spread of 55.5 basis points over the Government of Canada benchmark.
TD Securities Inc. was the lead manager.
The province first sold the issue on Jan. 17 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.
| Issuer: | Province of Ontario
|
| Amount: | C$1 billion reopening
|
| Maturity: | Sept. 8, 2017
|
| Securities: | Bonds
|
| Bookrunners: | TD Securities Inc.
|
| Coupon: | 1.9%
|
| Price: | 99.023
|
| Yield: | 2.088%
|
| Spread: | 55.5 bps over Government of Canada benchmark
|
| Pricing date: | Feb. 22
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA-
|
| DBRS: AA
|
| Distribution: | Canada
|
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