By Rebecca Melvin
New York, Dec. 9 - The Province of Quebec sold C$500 million in an add-on to its 4.25% bonds due Dec. 1, 2043 at 110 to yield 3.67%, or 104.5 basis points over the corresponding Government of Canada benchmark, according to a bond source on Friday.
The province bonds due Dec. 1, 2043 were last reopened on Oct. 26 to sell C$500 million at 104.68 to yield 3.99%, or a spread of 100 bps over the benchmark.
The total outstanding in the issue is C$2.5 billon. The province has an annual funding need of C$16 billion.
| Issuer: | Province of Quebec
|
| Amount: | C$500 million
|
| Maturity: | Dec. 1, 2043
|
| Securities: | Bonds
|
| Coupon: | 4.25%
|
| Price: | 104.5
|
| Yield: | 3.67%
|
| Spread: | 104.5 bps over Government of Canada benchmark
|
| Pricing date: | Dec. 9
|
| Distribution: | Canada
|
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