New Issue: Quebec prices $1.6 billion 2.875% 10-year notes to yield 47 bps over mid-swaps

By Aleesia Forni

Virginia Beach, Oct. 8 – Quebec priced $1.6 billion of 2.875% 10-year notes (Aa2/A+/AA-) at mid-swaps plus 47 basis points, or Treasuries plus 62.75 bps, on Wednesday, according to a market source and an FWP filing with the Securities and Exchange Commission.

Pricing was at 99.192 to yield 2.969%.

The notes were priced at the tight end of the mid-swaps plus 48 bps area talk.

BofA Merrill Lynch, HSBC, National Bank Financial and TD Securities were the bookrunners.

Issuer:	Quebec
Amount:	$1.6 billion
Description:	Global notes, series QO
Maturity:	Oct. 16, 2024
Bookrunners:	BofA Merrill Lynch, HSBC, National Bank Financial and TD Securities
Senior co-managers:	BMO Capital Markets, CIBC, RBC Capital Markets LLC, Scotiabank
Co-managers:	Bank of Tokyo Mitsubishi, BNP Paribas Securities Corp., Casgrain, Deutsche Bank Securities Inc., J.P. Morgan Securities LLC, RBS Securities Inc., Societe Generale, Valeurs Mobilieres Desjardins
Coupon:	2.875%
Price:	99.192
Yield:	2.969%
Spread:	Mid-swaps plus 47 bps, Treasuries plus 62.75 bps
Trade date:	Oct. 8
Settlement date:	Oct. 16
Ratings:	Moody’s: Aa2
	Standard & Poor's: A+
	Fitch: AA-
Price talk:	Mid-swaps plus 48 bps area, adjusted from guidance of mid-swaps plus high-40 bps area

© 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.