New Issue: Quebec sells C$500 million in reopening of 4.25% 10-year notes at 84 bps spread

By Cristal Cody

Prospect News, July 14 - The Province of Quebec (Aa2/A+/DBRS: A) sold C$500 million in a reopening of the 4.25% benchmark notes due Dec. 1, 2021 at 104.007 to yield 3.779%, an informed source said Thursday.

The notes priced at a spread of 84 basis points over the Government of Canada benchmark bond.

National Bank Financial Inc. was the lead manager. The co-managers were TD Securities Inc. and Scotia Capital Inc.

Issuer:	Province of Quebec
Amount:	C$500 million reopening
Maturity:	Dec. 1, 2021
Securities:	Notes
Bookrunner:	National Bank Financial Inc.
Co-managers:	TD Securities Inc., Scotia Capital Inc.
Coupon:	4.25%
Price:	104.007
Yield:	3.779%
Spread:	84 bps over Government of Canada benchmark
Pricing date:	July 13
Ratings:	Moody's: Aa2
	Standard & Poor's: A+
	DBRS: A
Distribution:	Canada

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