By Cristal Cody
Prospect News, Nov. 16 - The City of Vancouver (Aaa/DBRS: AA) sold C$140 million in 3.45% 10-year sinking fund debentures at 99.857 to yield 3.467% on Wednesday, according to a bond source.
The debentures due Dec. 2, 2021 priced at a spread of 133 basis points over the Government of Canada benchmark.
The debt is non-callable.
CIBC World Markets Inc. was the bookrunner. RBC Capital Markets Corp. was a co-manager.
| Issuer: | City of Vancouver
|
| Amount: | C$140 million
|
| Maturity: | Dec. 2, 2021
|
| Securities: | Sinking fund debentures
|
| Bookrunner: | CIBC World Markets Inc.
|
| Co-manager: | RBC Capital Markets Corp.
|
| Coupon: | 3.45%
|
| Price: | 99.857
|
| Yield: | 3.467%
|
| Spread: | 133 bps over Government of Canada benchmark
|
| Call feature: | Non-callable
|
| Pricing date: | Nov. 16
|
| Settlement date: | Dec. 2
|
| Ratings: | Moody's: Aaa
|
| DBRS: AA
|
| Distribution: | Canada
|
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