By Cristal Cody
Chicago, Jan. 18 – Federation des caisses Desjardins du Quebec sold $600 million senior fixed-to-floating-rate notes due 2026, according to information from a source.
The notes start with a 5.278% coupon. The coupon resets to SOFR plus 109.4 basis points.
The spread priced as 115 bps to Treasuries.
There are two years of call protection on the three-year notes.
Bank of Montreal was the bookrunners for the Rule 144A and Regulation S deal.
The Montreal-based organization supports the Desjardins caisses.
| Issuer: | Federation des caisses Desjardins du Quebec
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| Amount: | $600 million
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| Issue: | Senior fixed-to-floating-rate notes
|
| Maturity: | Jan. 23, 2026
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| Bookrunners: | Bank of Montreal
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| Coupon: | 5.278% starting coupon; resets to SOFR plus 109.4 bps
|
| Spread: | Treasuries plus 115 bps
|
| Call features: | Two years
|
| Trade date: | Jan. 12
|
| Distribution: | Rule 144A and Regulation S
|
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