By Cristal Cody
Prospect News, Feb. 16 -The Province of Quebec (Aa2//AA-/DBRS: A) sold an additional C$500 million in a reopening of its 4.25% notes due Dec. 1, 2021 at 99.388 to yield 4.321% on Wednesday, sources said.
The notes priced at a spread of 73 basis points over the Government of Canada benchmark.
National Bank Financial Inc. was the lead manager.
The issue now has a total outstanding of C$1.5 billion.
| Issuer: | Province of Quebec
|
| Amount: | C$500 million reopening
|
| Maturity: | Dec. 1, 2021
|
| Securities: | Benchmark notes
|
| Bookrunner: | National Bank Financial Inc.
|
| Coupon: | 4.25%
|
| Price: | 99.388
|
| Yield: | 4.321%
|
| Spread: | 73 bps over Government of Canada benchmark
|
| Pricing date: | Feb. 16
|
| Settlement date: | Feb. 22
|
| Ratings: | Moody's: Aa2
|
| Fitch: AA-
|
| DBRS: A
|
| Distribution: | Canada
|
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