By Cristal Cody
Prospect News, April 28 - The Province of Ontario (Aa1/AA-//DBRS: AA) sold C$750 million in a reopening of its 4% benchmark notes due June 2, 2021 at 99.407 to yield 4.072% on Thursday, an informed source said.
The notes priced at a spread of 73 basis points over the Government of Canada benchmark.
National Bank Financial Inc. was the lead manager.
The province previously reopened the issue on April 12 to sell C$750 million of the notes at a spread of 70.5 bps over the government benchmark. The total outstanding now is C$3.75 billion.
| Issuer: | Province of Ontario
|
| Amount: | C$750 million reopening
|
| Maturity: | June 2, 2021
|
| Securities: | Benchmark notes
|
| Bookrunner: | National Bank Financial Inc.
|
| Coupon: | 4%
|
| Price: | 99.407
|
| Yield: | 4.072%
|
| Spread: | 73 bps over Government of Canada benchmark
|
| Pricing date: | April 28
|
| Settlement date: | May 3
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA-
|
| DBRS: AA
|
| Distribution: | Canada
|
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