By Rebecca Melvin
New York, June 2 - The City of Toronto sold C$350 million of 4.7% 30-year bonds at 123 basis points over the Government of Canada June 2041 benchmark to yield 4.727%, a syndicate source said.
The bonds due June 10, 2014 priced at 99.569 via bookrunner Scotia Capital Inc.
The bonds maintained their spread in trading in the secondary market after pricing.
Toronto, which is Canada's largest city, last priced bonds in the autumn of 2010.
| Issuer: | City of Toronto
|
| Amount: | C$350 million
|
| Maturity: | June 10, 2041
|
| Securities: | Long bonds
|
| Bookrunner: | Scotia Capital Inc.
|
| Coupon: | 4.70%
|
| Price: | 99.569
|
| Yield: | 4.727%
|
| Spread: | 123 bps over Government of Canada benchmark
|
| Pricing date: | June 2
|
| Rating: | Moody's: Aa2
|
| Standard & Poor's: AA
|
| DBRS: AA
|
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