By Cristal Cody
Prospect News, Sept. 7 - 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 108.08 to yield 3.311% on Wednesday, a bond source said.
The notes were sold at a spread of 103 basis points over the Canadian government benchmark.
National Bank Financial Inc. was the lead manager.
The issue previously was reopened on Aug. 3 in a C$500 million add-on priced at 106.264 to yield 3.52%, or a spread of 87.5 bps over the benchmark. The total amount outstanding is C$4.5 billion.
| Issuer: | Province of Quebec
|
| Amount: | C$500 million reopening
|
| Maturity: | Dec. 1, 2021
|
| Securities: | Notes
|
| Bookrunner: | National Bank Financial Inc.
|
| Coupon: | 4.25%
|
| Price: | 108.08
|
| Yield: | 3.311%
|
| Spread: | 103 bps over Government of Canada benchmark
|
| Pricing date: | Sept. 7
|
| Settlement date: | Sept. 12
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: A+
|
| DBRS: A
|
| Distribution: | Canada
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
