By Cristal Cody
Tupelo, Miss., July 19 – The Province of Alberta priced $1.5 billion of 2.2% five-year bonds (Aa1/A+) at 99.854 to yield 2.231% on Wednesday, according to a market source and an FWP filing with the Securities and Exchange Commission.
The bonds priced at a spread of mid-swaps plus 34 basis points, or Treasuries plus 41.5 bps.
The issue was talked to price in the mid-swaps plus 34 bps area as books opened early in the day. Book orders were more than $1.6 billion.
Initial price thoughts on the notes were in the mid-swaps plus mid-30s bps area on Tuesday.
BNP Paribas Securities Corp., CIBC World Markets Corp., RBC Capital Markets, LLC and Scotia Capital (USA) Inc. were the bookrunners.
Proceeds will be used for general government purposes.
| Issuer: | Province of Alberta
|
| Amount: | $1.5 billion
|
| Description: | Bonds
|
| Maturity: | July 26, 2022
|
| Bookrunners: | BNP Paribas Securities Corp., CIBC World Markets Corp., RBC Capital Markets, LLC and Scotia Capital (USA) Inc.
|
| Co-managers: | BMO Capital Markets Corp., National Bank of Canada Financial Inc., TD Securities (USA) LLC, HSBC Bank plc and BofA Merrill Lynch
|
| Coupon: | 2.2%
|
| Price: | 99.854
|
| Yield: | 2.231%
|
| Spread: | Mid-swaps plus 34 bps, or Treasuries plus 41.5 bps
|
| Trade date: | July 19
|
| Settlement date: | July 26
|
| Ratings: | Moody’s: Aa1
|
| S&P: A+
|
| Distribution: | SEC registered
|
| Price talk: | Mid-swaps plus 34 bps area
|
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