By Cristal Cody
Prospect News, Nov. 14 - The Province of Alberta (Aaa/AAA/DBRS: AAA) sold C$500 million of 1.7% five-year notes at 99.605 to yield 1.782% on Wednesday, an informed bond source said.
The notes priced at a spread of 46 basis points over the Government of Canada benchmark.
CIBC World Market Inc. was the bookrunner.
The province last tapped the Canadian debt markets on Sept. 17 with a C$600 million reopening of its 2.55% notes due Dec. 15, 2022 at 98.951 to yield 2.668%, or a spread of 72 bps over the Canadian government benchmark.
| Issuer: | Province of Alberta
|
| Amount: | C$500 million
|
| Maturity: | Dec. 15, 2017
|
| Securities: | Notes
|
| Bookrunner: | CIBC World Market Inc.
|
| Coupon: | 1.7%
|
| Price: | 99.605
|
| Yield: | 1.782%
|
| Spread: | 46 bps over Government of Canada benchmark
|
| Pricing date: | Nov. 14
|
| Settlement date: | Nov. 21
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| DBRS: AAA
|
| Distribution: | Canada
|
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