By Wendy Van Sickle and Cristal Cody
Columbus, Ohio, Aug. 31 – The Province of Quebec (Aa2/AA-/AA-) priced a $1.5 billion offering of 4.5% global notes due 2033 at 99.618. to yield 4.548% on Thursday, according to an FWP filing with the Securities and Exchange Commission.
The notes priced with a spread of 72 basis points over SOFR mid-swaps, or at Treasuries plus 45.9 bps.
A source noted that talk was in the SOFR mid-swaps plus 73 bps area.
The global notes, series RD, are not optionally redeemable.
According to a notice, BofA Securities Inc., BMO Capital Markets Corp., HSBC Bank plc, National Bank of Canada Financial Inc. and TD Securities (USA) LLC are the joint bookrunners. BMO handled billing and delivery.
Proceeds will be added to the province’s consolidated revenue fund or advanced to the province’s financing fund.
The SEC-registered notes will be listed on the Euro MTF Market of the Luxembourg Exchange.
| Issuer: | Province of Quebec
|
| Amount: | $1.5 billion
|
| Issue: | Global notes, series RD
|
| Maturity: | Sept. 8, 2033
|
| Bookrunners: | BofA Securities Inc., BMO Capital Markets Corp., HSBC Bank plc, National Bank of Canada Financial Inc. and TD Securities (USA) LLC
|
| Coupon: | 4.5%
|
| Price: | 99.618
|
| Yield: | 4.548%
|
| Spread: | SOFR mid-swaps plus 72 bps, or Treasuries plus 45.9 bps
|
| Call features: | Non-callable
|
| Trade date: | Aug. 31
|
| Settlement date: | Sept. 8
|
| Distribution: | SEC registered
|
| Price talk: | SOFR mid-swaps plus 73 bps area
|
| Cusip: | 748148SE4
|
|
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
