Published on 9/20/2013 in the Prospect News Canadian Bonds Daily and Prospect News Investment Grade Daily.
New Issue: Ontario prices $1.75 billion 2% five-year notes to yield mid-swaps plus 34 bps
By Aleesia Forni
Virginia Beach, Va., Sept. 20 - The Province of Ontario (AA-/Aa2/AA) came to Friday's market with $1.75 billion of 2% five-year notes (/AA-/) priced at mid-swaps plus 34 basis points, according to an informed source and an FWP filing with the Securities and Exchange Commission.
Pricing was at 99.986 to yield 2.003%.
Bookrunners were CIBC, Citigroup Global Markets Inc., HSBC Securities and Morgan Stanley & Co. LLC.
Proceeds will be used for general provincial purposes.
Issuer: | Province of Ontario
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Issue: | Notes
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Amount: | $1.75 billion
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Maturity: | Sept. 27, 2018
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Underwriters: | CIBC World Markets Corp., Citigroup Global Markets Inc., HSBC Securities (USA) 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: | 2%
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Price: | 99.986
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Yield: | 2.003%
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Spread: | Mid-swaps plus 34 bps, Treasuries plus 52 bps
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Trade date: | Sept. 20
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Settlement date: | Sept. 27
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Rating: | Standard & Poor's: AA-
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