By Andrea Heisinger
New York, Aug. 19 - The Province of Quebec gave terms of its $1.4 billion of 2.75% 10-year global notes, according to an FWP filing with the Securities and Exchange Commission.
The notes (Aa2/A+/AA-) priced at 99.61 to yield 2.795% with a spread of Treasuries plus 69.3, or mid-swaps plus 57 bps.
The notes are non-callable.
Bookrunners were Bank of America Merrill Lynch, Deutsche Bank Securities Inc., J.P. Morgan Securities LLC and Scotia Capital (USA) Inc.
National Bank of Canada Financial, BMO Capital Markets Corp., CIBC World Markets, RBC Capital Markets LLC and TD Securities (USA) LLC were the senior co-managers.
Co-managers were BNP Paribas Securities Corp., Casgrain & Co. Ltd., Desjardins Capital Markets, HSBC Securities (USA) Inc., Mitsubishi UFJ Securities (USA) Inc. and RBS Securities Inc.
Proceeds are being added to the Consolidated Revenue Fund of Quebec and applied to the general expenses of Quebec or will be advanced to the Financing Fund of Quebec.
The issuer is based in Montreal.
| Issuer: | Province of Quebec
|
| Issue: | Global notes
|
| Amount: | $1.4 billion
|
| Maturity: | Aug. 25, 2021
|
| Bookrunners: | Bank of America Merrill Lynch, Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, Scotia Capital (USA) Inc.
|
| Senior co-managers: | National Bank of Canada Financial, BMO Capital Markets Corp., CIBC World Markets, RBC Capital Markets LLC, TD Securities (USA) LLC
|
| Co-managers: | BNP Paribas Securities Corp., Casgrain & Co. Ltd., Desjardins Capital Markets, HSBC Securities (USA) Inc., Mitsubishi UFJ Securities (USA) Inc., RBS Securities Inc.
|
| Coupon: | 2.75%
|
| Price: | 99.61
|
| Yield: | 2.795%
|
| Spread: | Treasuries plus 69.3 bps, mid-swaps plus 57 bps
|
| Call: | Non-callable
|
| Trade date: | Aug. 18
|
| Settlement date: | Aug. 25
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: A+
|
| Fitch: AA-
|
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