By Cristal Cody
Prospect News, Jan. 25 - The Province of Quebec (Aa2/A+/DBRS: A) sold C$500 million in a reopening of its 5% bonds due Dec. 1, 2041 at 105.592 to yield 4.635% on Tuesday, an informed source said.
The bonds priced at a spread of 89 basis points over the Government of Canada 4% 2041 benchmark.
National Bank Financial Inc. was the lead manager.
The issue now has C$6 billion total outstanding.
Issuer: | Province of Quebec
|
Amount: | C$500 million reopening
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Maturity: | Dec. 1, 2041
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Securities: | Bonds
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Bookrunner: | National Bank Financial Inc.
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Coupon: | 5%
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Price: | 105.592
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Yield: | 4.635%
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Spread: | 89 basis points over the Government of Canada 4% benchmark due 2041
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Pricing date: | Jan. 25
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Settlement date: | Jan. 28
|
Ratings: | Moody's: Aa2
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| Standard & Poor's: A+
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| DBRS: A
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Distribution: | Canada
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