By Cristal Cody
Prospect News, Oct. 12 - The Province of Quebec (Aa2/A+//DBRS: A) sold C$300 million in a reopening of its 4.5% notes due Dec. 1, 2020 at 109.888 to yield 3.239% on Wednesday, an informed source said.
The notes priced at a spread of 98 basis points over the Government of Canada benchmark.
National Bank Financial Inc. was the lead manager.
The issue now has a total of C$5.3 billion outstanding.
| Issuer: | Province of Quebec
|
| Amount: | C$300 million reopening
|
| Maturity: | Dec. 1, 2020
|
| Securities: | Benchmark notes
|
| Bookrunner: | National Bank Financial Inc.
|
| Coupon: | 4.5%
|
| Price: | 109.888
|
| Yield: | 3.239%
|
| Spread: | 98 bps over Government of Canada benchmark
|
| Pricing date: | Oct. 12
|
| Settlement date: | Oct. 17
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: A+
|
| DBRS: A
|
| Distribution: | Canada
|
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