By Cristal Cody
Prospect News, Dec. 18 - The Province of Quebec (Aa2/A+/DBRS: A) sold C$400 million in a reopening it its 4.25% notes due Dec. 1, 2021 at 111.461 to yield 2.793% on Tuesday, according to an informed source.
The notes priced at a spread of 105.5 basis points over the Government of Canada benchmark.
National Bank Financial Inc. was the bookrunner.
The province last reopened the issue a year ago on Nov. 8, 2011 in a C$500 million offering that priced at 109.31 to yield 3.161%, or a spread of 100 bps over the benchmark.
The total outstanding is C$6.4 billion.
| Issuer: | Province of Quebec
|
| Amount: | C$400 million reopening
|
| Maturity: | Dec. 1, 2021
|
| Securities: | Notes
|
| Bookrunner: | National Bank Financial Inc.
|
| Coupon: | 4.25%
|
| Price: | 111.461
|
| Yield: | 2.793%
|
| Spread: | 105.5 bps over Government of Canada benchmark
|
| Pricing date: | Dec. 18
|
| Settlement date: | Dec. 21
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: A+
|
| DBRS: A
|
| Distribution: | Canada
|
| Total outstanding: | C$6.4 billion
|
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