By Cristal Cody
Tupelo, Miss., Jan. 15 – The Province of Alberta (Aa1/AA) priced $1.75 billion of 2.95% five-year global bonds on Tuesday at mid-swaps plus 37 basis points, or a Treasuries plus 45.9 bps spread, according to a market source and an FWP filing with the Securities and Exchange Commission.
The notes were initially talked to print in the mid-swaps plus mid-to-high 30 bps area.
The issue priced at 99.866 to yield 2.979%.
CIBC World Markets Corp., J.P. Morgan Securities LLC, RBC Capital Markets, LLC and TD Securities (USA) LLC were the bookrunners.
The notes are non-callable.
Proceeds will be used for general government purposes.
| Issuer: | Province of Alberta
|
| Amount: | $1.75 billion
|
| Description: | Global bonds
|
| Maturity: | Jan. 23, 2024
|
| Bookrunners: | CIBC World Markets Corp., J.P. Morgan Securities LLC, RBC Capital Markets, LLC and TD Securities (USA) LLC
|
| Co-managers: | BMO Capital Markets Corp., Deutsche Bank Securities Inc., BofA Merrill Lynch, National Bank of Canada Financial Inc. and Scotia Capital (USA) Inc.
|
| Coupon: | 2.95%
|
| Price: | 99.866
|
| Yield: | 2.979%
|
| Spread: | Mid-swaps plus 37 bps, or Treasuries plus 45.9 bps
|
| Call feature: | None
|
| Trade date: | Jan. 15
|
| Settlement date: | Jan. 23
|
| Ratings: | Moody’s: Aa1
|
| S&P: A+
|
| Distribution: | SEC registered
|
| Price talk: | Mid-swaps plus mid-to-high 30 bps area
|
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