By Cristal Cody
Prospect News, Oct. 18 - The Province of Ontario sold C$1 billion in a reopening of its 4.4% eight-year notes at 110.995 to yield 2.787% on Tuesday, a bond source said.
The notes (Aa1/AA-//DBRS: AA) priced at a spread of 79.5 basis points over the Canadian government benchmark.
About C$600 million was set aside for one investor and the remainder syndicated, the source said.
CIBC World Markets Inc. was the lead manager.
| Issuer: | Province of Ontario
|
| Amount: | C$1 billion reopening
|
| Maturity: | June 2, 2019
|
| Securities: | Notes
|
| Bookrunner: | CIBC World Markets Inc.
|
| Coupon: | 4.4%
|
| Price: | 110.995
|
| Yield: | 2.787%
|
| Spread: | 79.5 bps over Government of Canada benchmark
|
| Pricing date: | Oct. 18
|
| Settlement date: | Oct. 21
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA-
|
| DBRS: AA
|
| Distribution: | Canada
|
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