New Issue: Quebec sells C$500 million add-on to 4.25% notes due 2021 at 100 bps spread

By Cristal Cody

Prospect News, Nov. 8 - The Province of Quebec (Aa2/A+//DBRS: A) sold C$500 million in a reopening of its 4.25% 10-year notes at 109.31 to yield 3.161% on Tuesday, a bond source said.

The notes priced at a spread of 100 basis points over the Government of Canada benchmark.

Managers included National Bank Financial Inc., BMO Capital Markets Corp., Scotia Capital Inc., CIBC World Markets Inc., RBC Capital Markets Corp., Casgrain & Co. Ltd., Laurentian Bank Securities, Inc. and TD Securities Inc.

The total issue size is now C$6 billion.

Issuer:	Province of Quebec
Amount:	C$500 million reopening
Maturity:	Dec. 1, 2021
Securities:	Notes
Bookrunner:	National Bank Financial Inc., BMO Capital Markets Corp., Scotia Capital Inc., CIBC World Markets Inc., RBC Capital Markets Corp., Casgrain & Co. Ltd., Laurentian Bank Securities, Inc., TD Securities Inc.
Coupon:	4.25%
Price:	109.31
Yield:	3.161%
Spread:	100 bps over Government of Canada benchmark
Redemption:	Non-callable
Pricing date:	Nov. 8
Settlement date:	Nov. 14
Ratings:	Moody's: Aa2
	Standard & Poor's: A+
	DBRS: A
Distribution:	Canada

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