By Cristal Cody
Prospect News, Jan. 25 - The Province of Quebec (Aa2/A+/DBRS: A) sold C$500 million in a reopening of its 5% bonds due Dec. 1, 2041 at 105.592 to yield 4.635% on Tuesday, an informed source said.
The bonds priced at a spread of 89 basis points over the Government of Canada 4% 2041 benchmark.
National Bank Financial Inc. was the lead manager.
The issue now has C$6 billion total outstanding.
| Issuer: | Province of Quebec
|
| Amount: | C$500 million reopening
|
| Maturity: | Dec. 1, 2041
|
| Securities: | Bonds
|
| Bookrunner: | National Bank Financial Inc.
|
| Coupon: | 5%
|
| Price: | 105.592
|
| Yield: | 4.635%
|
| Spread: | 89 basis points over the Government of Canada 4% benchmark due 2041
|
| Pricing date: | Jan. 25
|
| Settlement date: | Jan. 28
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: A+
|
| DBRS: A
|
| Distribution: | Canada
|
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