By Cristal Cody
Prospect News, Jan. 13 - The Province of Quebec (Aa2/A+/DBRS: A) reopened its 4.5% notes due Dec. 1, 2020 to sell C$500 million at 103.199 to yield 4.102% early Thursday, an informed source said.
The notes priced at a spread of 81.5 basis points over the Government of Canada benchmark.
National Bank Financial Inc. was the bookrunner.
The issue now has a total of C$5 billion outstanding and was previously reopened on Nov. 19, 2010.
| Issuer: | Province of Quebec
|
| Amount: | C$500 million reopening
|
| Maturity: | Dec. 1, 2020
|
| Securities: | Benchmark notes
|
| Bookrunner: | National Bank Financial Inc.
|
| Coupon: | 4.5%
|
| Price: | 103.199
|
| Yield: | 4.102%
|
| Spread: | 81.5 bps over Government of Canada benchmark
|
| Pricing date: | Jan. 13
|
| Settlement date: | Jan. 18
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: A+
|
| DBRS: A
|
| Distribution: | Canada
|
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