By Rebecca Melvin
New York, Oct. 11 - The Province of Nova Scotia (Aa2/A+/DBRS: A) sold C$342.6 million in a reopening of its 3.5% 50-year bonds at 101.086 to yield 3.454% on Thursday, an informed bond source said.
The bonds due June 2, 2062 priced at a spread of 103 basis points over the Government of Canada benchmark dated June 2, 2062.
TD Securities Inc., BMO Capital Markets Corp., CIBC World Markets Inc. and RBC Capital Markets Corp. were the lead managers.
The province last reopened the bonds on May 9 to sell C$322.8 million at 98.625 to yield 3.559%. The province initially sold C$150 million of the issue on Jan. 17 at 100.074 to yield 3.497%. The total outstanding is C$1.185 billion.
| Issuer: | Province of Nova Scotia
|
| Amount: | C$342.6 million reopening
|
| Maturity: | June 2, 2062
|
| Securities: | Bonds
|
| Bookrunners: | TD Securities Inc., BMO Capital Markets Corp., CIBC World Markets Inc., RBC Capital Markets Corp.
|
| Coupon: | 3.5%
|
| Price: | 101.086
|
| Yield: | 3.454%
|
| Spread: | 103 bps over Government of Canada benchmark
|
| Pricing date: | Oct. 11
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: A+
|
| DBRS: A
|
| Distribution: | Canada
|
| Total outstanding: | C$1.185 billion
|
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