Ontario offers 10-year U.S. dollar global notes; price talk SOFR mid-swaps plus 80 bps area

By Cristal Cody

Chicago, April 16 – Ontario is offering U.S. dollar-denominated fixed-rate global bonds due April 24, 2034, according to a 424B2 filing with the Securities and Exchange Commission and details from a market source.

The bonds may not be redeemed early.

Price talk is in the SOFR mid-swaps plus 80 basis points area.

Citigroup, CIBC, RBC and TD are the underwriters.

The province is using government counsel, and Shearman & Sterling LLP is advising on certain U.S. legal matters.

Stikeman Elliott LLP (Canadian law) and Davis Polk & Wardwell LLP (U.S. law) will advise the underwriters.

Bank of New York Mellon will be the fiscal agent.

Proceeds will be used for general provincial purposes.

© 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.