By Cristal Cody
Prospect News, June 7 - The Province of Ontario (Aa2/AA-/DBRS: AA) priced C$750 million in a reopening of its 3.15% 10-year notes at 102.737 to yield 2.833% on Thursday, a bond source said.
The notes due June 2, 2022 priced at a spread of 103.5 basis points over the Government of Canada benchmark.
TD Securities Inc. was the lead manager.
The province first sold the issue on Nov. 3, 2011 in a C$750 million offering at 99.589 to yield 3.196%, or a spread of 87 bps over the government benchmark.
The province last reopened the notes on May 24 to sell C$750 million in an add-on at 101.87 to yield 2.933%, or 104 bps plus the Government of Canada benchmark. The total outstanding is now C$6 billion.
Issuer: | Province of Ontario
|
Amount: | C$750 million
|
Maturity: | June 2, 2022 reopening
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Securities: | Notes
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Lead manager: | TD Securities
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Coupon: | 3.15%
|
Price: | 102.737
|
Yield: | 2.833%
|
Spread: | 103.5 bps over Government of Canada benchmark
|
Call feature: | Non-callable
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Pricing date: | June 7
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Settlement date: | June 12
|
Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA-
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| DBRS: AA
|
Distribution: | Canada
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Total outstanding: | C$6 billion
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