By Cristal Cody
Prospect News, July 5 - The Province of Quebec (Aa2/A+/AA-) sold A$225 million of 6.5% 10-year notes at 99.927 to yield 6.51% on Monday, an informed bond source said.
The notes priced at a spread of Australian mid-swaps plus 75 basis points.
RBC Capital Markets Corp. and TD Securities Inc. were lead managers.
The kangaroo deal is the province's first new issuance in Australia since 2005.
| Issuer: | Province of Quebec
|
| Amount: | A$225 million
|
| Maturity: | 2021
|
| Securities: | Notes
|
| Bookrunners: | RBC Capital Markets Corp. and TD Securities Inc.
|
| Coupon: | 6.5%
|
| Price: | 99.927
|
| Yield: | 6.51%
|
| Spread: | Australian mid-swaps plus 75 bps
|
| Pricing date: | July 4
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: A+
|
| Fitch: AA-
|
| Distribution: | Australia
|
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