By Cristal Cody
Prospect News, Nov. 30 - The Province of Quebec (Aa2/A+/DBRS: A) sold C$500 million of 3% medium-term notes due Sept. 1, 2023 at 99.997 to yield 3% on Friday, an informed source said.
The notes priced at a spread of 119.5 basis points over the Government of Canada benchmark.
National Bank Financial Inc. was the bookrunner.
The province was last in the Canadian debt markets on Nov. 1 with a C$500 million add-on to its 3.5% medium-term notes due Dec. 1, 2022.
| Issuer: | Province of Quebec
|
| Amount: | C$500 million
|
| Maturity: | Sept. 1, 2023
|
| Securities: | Medium-term notes
|
| Bookrunner: | National Bank Financial Inc.
|
| Coupon: | 3%
|
| Price: | 99.997
|
| Yield: | 3%
|
| Spread: | 119.5 bps over Government of Canada benchmark
|
| Pricing date: | Nov. 30
|
| Settlement date: | Dec. 5
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: A+
|
| DBRS: A
|
| Distribution: | Canada
|
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