By Rebecca Melvin
New York, Oct. 11 - The Regional Municipality of York (Aaa/AAA/) sold C$150 million of 4% 20-year bonds at 102.646 to yield 3.807% on Thursday, an informed bond source said.
The bonds due May 31, 2032 priced at a spread of 155 basis points over the Government of Canada benchmark.
CIBC World Markets Inc. and RBC Capital Markets Corp. were bookrunners on the deal.
The issuer last sold C$150 million in a reopening of the 4% notes due May 31, 2032 at a spread of 170 bps over the Government of Canada benchmark. There is now $400 million outstanding in the 4% bonds of 2032.
The issuer is a regional group made up of nine municipalities in Ontario.
| Issuer: | Regional Municipality of York
|
| Amount: | C$250 million
|
| Maturity: | May 31, 2032
|
| Securities: | Bonds
|
| Bookrunner: | CIBC World Markets and RBC Capital Markets Corp.
|
| Coupon: | 4%
|
| Price: | 102.646
|
| Yield: | 3.807%
|
| Spread: | 155 bps over Government of Canada benchmark
|
| Pricing date: | Oct. 11
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| Distribution: | Canada
|
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