New Issue: Ontario prices $2.5 billion 2.7% five-year bonds to yield Treasuries plus 73.55 bps

By Andrea Heisinger

New York, June 9 - The Province of Ontario sold a benchmark $2.5 billion issue of 2.7% five-year global bonds on Wednesday to yield Treasuries plus 73.55 basis points, a market source close to the deal said.

The notes were talked in the mid-swaps plus 40 bps area, a source said, and priced in line with that level.

The notes (Aa1/AA-) priced at 99.954 to yield 2.71%. They are non-callable.

Bookrunners were Barclays Capital, Deutsche Bank Securities, Morgan Stanley & Co. Inc. and RBC Capital Markets.

Bank of Montreal, London branch, CIBC World Markets Corp., National Bank Financial Inc., Scotia Capital USA Inc. and TD Securities USA LLC were the co-managers.

Issuer:	Province of Ontario
Issue:	Global bonds
Amount:	$2.5 billion
Maturity:	June 16, 2015
Bookrunners:	Barclays Capital, Deutsche Bank Securities, Morgan Stanley & Co. Inc., RBC Capital Markets
Co-managers:	Bank of Montreal, London branch, CIBC World Markets Corp., National Bank Financial Inc., Scotia Capital USA Inc., TD Securities USA LLC
Coupon:	2.7%
Price:	99.954
Yield:	2.71%
Spread:	Treasuries plus 73.55 bps (mid-swaps plus 40 bps)
Call:	Non-callable
Trade date:	June 9
Settlement date:	June 16
Ratings:	Moody's: Aa1
	Standard & Poor's: AA-
Price talk:	Mid-swaps plus 40 bps

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