Published on 5/16/2012 in the Prospect News Canadian Bonds Daily and Prospect News Investment Grade Daily.
New Issue: Ontario prices $3.5 billion 0.95% three-year bonds to yield Treasuries plus 57 bps
By Andrea Heisinger
New York, May 16 - The Province of Ontario sold $3.5 billion of 0.95% three-year bonds on Wednesday at a spread of Treasuries plus 57 basis points, or mid-swaps plus 21 bps, according to an FWP filing with the Securities and Exchange Commission.
The bonds (/AA-/) were priced at 99.979 to yield 0.957%. They are non-callable.
Underwriters were CIBC World Markets Corp., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Morgan Stanley & Co. International plc, BMO Capital Markets Corp., National Bank Financial Inc., RBC Capital Markets, LLC, Scotia Capital (USA) Inc. and TD Securities (USA) LLC.
The issuer is based in Toronto.
Issuer: | Province of Ontario
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Issue: | Bonds
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Amount: | $3.5 billion
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Maturity: | May 26, 2015
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Underwriters: | CIBC World Markets Corp., Citigroup Global Markets Inc., Deutsche Bank Securities Inc., Morgan Stanley & Co. International plc, BMO Capital Markets Corp., National Bank Financial Inc., RBC Capital Markets, LLC, Scotia Capital (USA) Inc., TD Securities (USA) LLC
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Coupon: | 0.95%
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Price: | 99.979
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Yield: | 0.957%
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Spread: | Treasuries plus 57 bps, mid-swaps plus 21 bps
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Call: | Non-callable
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Trade date: | May 16
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Settlement date: | May 24
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Rating: | Standard & Poor's: AA-
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