New Issue: Quebec sells C$500 million 3.5% notes due 2022 at 115 bps spread

By Cristal Cody

Prospect News, Nov. 29 - The Province of Quebec (Aa2/A+/DBRS: A) sold C$500 million of new 3.5% notes due Dec. 1, 2022 at 100.6 to yield 3.434% on Tuesday, a bond source said.

The notes priced at a spread of 115 basis points over the Government of Canada benchmark.

National Bank Financial Inc. was the lead manager.

Issuer:	Province of Quebec
Amount:	C$500 million
Maturity:	Dec. 1, 2022
Securities:	Notes
Bookrunner:	National Bank Financial Inc.
Coupon:	3.5%
Price:	100.6
Yield:	3.434%
Spread:	115 bps over Government of Canada benchmark
Pricing date:	Nov. 29
Settlement date:	Dec. 2
Ratings:	Moody's: Aa2
	Standard & Poor's: A+
	DBRS: A
Distribution:	Canada

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