By Cristal Cody
Prospect News, June 14 - The Province of Quebec (Aa2/A+/DBRS: A) sold C$500 million in a reopening of its 5% bonds due Dec. 1, 2041 at 110.749 to yield 4.359%, an informed bond source said Tuesday.
The bonds priced at a spread of 89 basis points over the Government of Canada benchmark bond.
National Bank Financial Inc. was the bookrunner.
Quebec previously reopened the issue on May 18 to sell an add-on of C$550 million at a spread of 91 bps. The total outstanding now is C$7.5 billion.
| Issuer: | Province of Quebec
|
| Amount: | C$500 million reopening
|
| Maturity: | Dec. 1, 2041
|
| Securities: | Bonds
|
| Bookrunner: | National Bank Financial Inc.
|
| Coupon: | 5%
|
| Price: | 110.749
|
| Yield: | 4.359%
|
| Spread: | 89 bps over Government of Canada benchmark
|
| Pricing date: | June 13
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: A+
|
| DBRS: A
|
| Distribution: | Canada
|
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