By Cristal Cody
Prospect News, Aug. 21 - Merrill Lynch Canada Inc. sold C$352,365,924 in two pools of National Housing Authority mortgage-backed securities on Tuesday, an informed bond source said.
In the first pool, Merrill Lynch Canada priced C$175,265,989 of 2.14% bonds due July 30, 2016 at 99.505 to yield 2.252%, or a spread of 82.6 basis points over the Government of Canada benchmark.
Merrill Lynch Canada sold C$177,108,935 of 2.16% bonds due Sept. 21, 2016 in the second pool at 99.49 to yield 2.272%, or a spread of 84.6 bps over the government benchmark.
Both pools have weighted average life maturities.
Bank of America Merrill Lynch was the lead manager.
Merrill Lynch Canada is a unit of Bank of America Corp.
| Issuer: | Merrill Lynch Canada Inc.
|
| Amount: | C$352,365,924
|
| Securities: | National Housing Authority mortgage-backed securities
|
| Bookrunner: | Bank of America Merrill Lynch
|
| Pricing date: | Aug. 21
|
| Settlement date: | Aug. 28
|
| Distribution: | Canada
|
|
|
| Securities due July 2016
|
| Amount: | C$175,265,989
|
| Maturity: | July 30, 2016
|
| Coupon: | 2.14%
|
| Price: | 99.505
|
| Yield: | 2.252%
|
| Spread: | 82.6 bps over Government of Canada benchmark
|
|
|
| Securities due September 2016
|
| Amount: | C$177,108,935
|
| Maturity: | Sept. 21, 2016
|
| Coupon: | 2.16%
|
| Price: | 99.49
|
| Yield: | 2.272%
|
| Spread: | 84.6 bps over Government of Canada benchmark
|
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