By Cristal Cody
Prospect News, Sept. 14 - The Province of Quebec (Aa2/A+//A) raised C$500 million in an add-on to its 4.25% bonds due Dec. 1, 2043 at 106.746 to yield 3.88% on Wednesday, a bond source said.
The bonds priced at a spread of 102 basis points over the Government of Canada benchmark.
National Bank Financial Inc. was the lead manager.
The province first brought the issue on Aug. 12 in a C$500 million offering priced at 103.875 to yield 4.034%, or a spread of 97 bps over the benchmark. The bonds were reopened on Sept. 1 in a C$500 million deal priced at 103.467 to yield 4.056%, or 100 bps over the benchmark.
The total amount outstanding for the issue is now C$1.5 billion.
| Issuer: | Province of Quebec
|
| Amount: | C$500 million
|
| Maturity: | Dec. 1, 2043
|
| Securities: | Bonds
|
| Bookrunner: | National Bank Financial Inc.
|
| Coupon: | 4.25%
|
| Price: | 106.746
|
| Yield: | 3.88%
|
| Spread: | 102 bps over Government of Canada benchmark
|
| Pricing date: | Sept. 14
|
| Settlement date: | Sept. 19
|
| 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.
