New Issue: Province of Ontario sells $3 billion 2.95% five-year notes at Treasuries plus 57.2 bps

By Andrea Heisinger

New York, Jan. 29 - Province of Ontario sold $3 billion of 2.95% five-year global notes early on Friday to yield 57.2 basis points over Treasuries, a source away from the sale said.

The non-callable notes (Aa1/AA-/) priced at 99.885 to yield 2.975%.

Bank of America Merrill Lynch, Citigroup Global Markets, HSBC Securities and RBC Capital Markets ran the books.

Co-managers were Bank of Montreal, London branch, CIBC World Markets, National Bank Financial, Scotia Capital and Toronto-Dominion Bank.

Issuer:	Province of Ontario
Issue:	Global notes
Amount:	$3 billion
Maturity:	Feb. 5, 2015
Bookrunners:	Bank of America Merrill Lynch, Citigroup Global Markets, HSBC Securities, RBC Capital Markets
Co-managers:	Bank of Montreal, London branch, CIBC World Markets, National Bank Financial, Scotia Capital, Toronto-Dominion Bank
Coupon:	2.95%
Price:	99.885
Yield:	2.975%
Spread:	Treasuries plus 57.2 bps
Call:	Non-callable
Trade date:	Jan. 29
Settlement date:	Feb. 5
Ratings:	Moody's: Aa1
	Standard & Poor's: AA-

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