By Cristal Cody
Prospect News, March 29 - The Province of Quebec (Aa2/A+/DBRS: A) sold C$500 million of its 4.25% debentures due Dec. 1, 2043 at 110.863 to yield 3.667% in a reopening of the issue on Thursday, a bond source said.
The province sold the debentures at a spread of 101.5 basis points over the Government of Canada benchmark.
National Bank of Canada was the lead manager.
The province originally priced the debentures in a C$500 million offering on Aug. 12 at 103.875 to yield 4.034%, or 97 bps over the government benchmark. The total outstanding is C$3.5 billion.
| Issuer: | Province of Quebec
|
| Amount: | C$500 million
|
| Maturity: | Dec. 1, 2043
|
| Securities: | Debentures
|
| Bookrunner: | National Bank of Canada
|
| Coupon: | 4.25%
|
| Price: | 110.863
|
| Yield: | 3.667%
|
| Spread: | 101.5 bps over Government of Canada benchmark
|
| Pricing date: | March 29
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: A+
|
| DBRS: A
|
| Distribution: | Canada
|
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