By Cristal Cody
Prospect News, June 26 - The Province of Ontario (Aa2/AA-//DBRS: AA) priced C$750 million in a reopening of its 4.4% notes due 2019 at 113.223 to yield 2.322% on Tuesday, according to a bond source.
The notes due June 2, 2019 came at a spread of 84 basis points over the Government of Canada benchmark.
RBC Capital Markets Corp. was the lead manager.
The province last reopened the issue on Oct. 18, 2011 in a C$1 billion add-on at 110.995 to yield 2.787%, or a spread of 79.5 bps over the Canadian government benchmark.
| Issuer: | Province of Ontario
|
| Amount: | C$750 million reopening
|
| Maturity: | June 2, 2019
|
| Securities: | Notes
|
| Bookrunner: | RBC Capital Markets Corp.
|
| Coupon: | 4.4%
|
| Price: | 113.223
|
| Yield: | 2.322%
|
| Spread: | 84 bps over Government of Canada benchmark
|
| Pricing date: | June 26
|
| Settlement date: | June 29
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA-
|
| DBRS: AA
|
| Distribution: | Canada
|
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