Published on 11/1/2012 in the Prospect News Canadian Bonds Daily.
New Issue: Quebec sells C$500 million add-on to 3.5% 10-year notes at 111.5 bps over benchmark
By Cristal Cody
Prospect News, Nov. 1 - The Province of Quebec (Aa2/A+/DBRS: A) priced C$500 million in a reopening of its 3.5% 10-year medium-term notes on Thursday at 105.089 to yield 2.913%, an informed bond source said.
The notes due Dec. 1, 2022 priced at a spread of 111.5 basis points over the Government of Canada benchmark.
National Bank Financial Inc. was the lead manager.
The notes are non-callable.
The province last tapped the issue on Sept. 20 with a C$500 million add-on that priced at 105.155 to yield 2.911%, or 106.5 bps over the Government of Canada benchmark.
Issuer: | Province of Quebec
|
Amount: | C$500 million reopening
|
Maturity: | Dec. 1, 2022
|
Securities: | Medium-term notes
|
Bookrunner: | National Bank Financial Inc.
|
Co-managers: | BMO Capital Markets Corp., Casgrain & Co. Ltd., CIBC World Markets Inc., TD Securities Inc., Laurentian Bank Securities, Inc., Merrill Lynch Canada Inc., RBC Capital Markets Corp., Scotia Capital Inc., Desjardins Securities Inc.
|
Coupon: | 3.5%
|
Price: | 105.089
|
Yield: | 2.913%
|
Spread: | 111.5 bps over Government of Canada benchmark
|
Call feature: | Non-callable
|
Pricing date: | Nov. 1
|
Settlement date: | Nov. 6
|
Ratings: | Moody's: Aa2
|
| Standard & Poor's: A+
|
| DBRS: A
|
Distribution: | Canada
|
Total outstanding: | C$6 billion
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.