Alberta enters Wednesday market with 10-year global notes; talk SOFR mid-swaps plus 89 bps area

By Cristal Cody

Chicago, Jan. 17 – The Province of Alberta intends to use the Wednesday market to price a new offering of global notes denominated in U.S. dollars, according to information provided by a source.

The 10-year notes are being talked in the SOFR mid-swaps plus 89 basis points area.

The maturity date will be Jan. 24, 2034, and the bonds are non-callable.

CIBC, JPMorgan, RBC and TD Securities are the bookrunners.

There will be a fiscal agent for the bonds instead of a trustee.

For legal matters, the province is using its own counsel and Paul, Weiss, Rifkind, Wharton & Garrison LLP. The underwriters will employ Norton Rose Fulbright Canada LLP and Davis Polk & Wardwell LLP.

Proceeds will be used for general government purposes.

The bonds will be listed in Luxembourg.

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