By Cristal Cody
Prospect News, Oct. 16 - The Province of Quebec (Aa2/A+/DBRS: A) sold C$500 million in a reopening of its 4.5% medium-term notes due Dec. 1, 2017 at 112.298 to yield 1.962% on Tuesday, an informed bond source said.
The notes priced at a spread of 62 basis points over the Government of Canada benchmark.
National Bank Financial Inc. was the lead manager.
The province first sold the issue in a C$500 million offering on Jan. 24, 2007.
The total outstanding is C$4.5 billion.
| Issuer: | Province of Quebec
|
| Amount: | C$500 million reopening
|
| Maturity: | Dec. 1, 2017
|
| Securities: | Medium-term notes
|
| Bookrunner: | National Bank Financial Inc.
|
| Coupon: | 4.5%
|
| Price: | 112.298
|
| Yield: | 1.962%
|
| Spread: | 62 bps over Government of Canada benchmark
|
| Pricing date: | Oct. 16
|
| Settlement date: | Oct. 19
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: A+
|
| DBRS: A
|
| Distribution: | Canada
|
| Total outstanding: | C$4.5 billion
|
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