By Cristal Cody
Tupelo, Miss., Nov. 4 – Teranet Holdings LP sold C$200 million of 3.646% seven-year senior secured notes at par in a private placement offering on Tuesday, according to a market source on Wednesday.
The notes priced with a spread of 233 basis points versus the interpolated Government of Canada bond curve.
RBC Dominion Securities Inc. and Scotia Capital Inc. were the bookrunners.
Teranet held a roadshow for the offering that began on Oct. 26 and ended on Monday.
Proceeds from the deal are expected to be used to redeem a C$500 million bond due on Dec. 16, 2015.
Toronto-based Ternanet is a subsidiary of Omers pension fund and owns Teranet Inc., which manages the Province of Ontario’s electronic land registry system.
Issuer: | Teranet Holdings LP
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Amount: | C$200 million
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Maturity: | Nov. 18, 2022
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Securities: | Senior secured notes
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Bookrunners: | RBC Dominion Securities Inc., Scotia Capital Inc.
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Co-managers: | BMO Nesbitt Burns Inc., Citigroup Global Markets Canada Inc., TD Securities Inc., National Bank Financial Inc.
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Coupon: | 3.646%
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Price: | Par
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Yield: | 3.646%
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Spread: | 233 bps over interpolated Government of Canada bond curve
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Pricing date: | Nov. 3
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Settlement date: | Nov. 18
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Ratings: | Standard & Poor’s: BBB
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| DBRS: BBB
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Marketing: | Roadshow
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Distribution: | Canada private placement
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