By Cristal Cody
Prospect News, Aug. 12 - 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 105.916 to yield 3.288% on Friday, according to a bond source.
The notes priced at a spread of 85 basis points over the Government of Canada benchmark.
TD Securities Inc. was the lead manager.
The issue was previously reopened on July 12 in a C$750 million add-on priced at 102.629 to yield 3.68%, or a spread of 74.5 bps over the Government of Canada benchmark.
The issue now has a total of C$6.75 billion outstanding.
| Issuer: | Province of Ontario
|
| Amount: | C$750 million reopening
|
| Maturity: | June 2, 2021
|
| Securities: | Benchmark notes
|
| Bookrunner: | TD Securities Inc.
|
| Coupon: | 4%
|
| Price: | 105.916
|
| Yield: | 3.288%
|
| Spread: | 85 bps over Government of Canada benchmark
|
| Pricing date: | Aug. 12
|
| Settlement date: | Aug. 17
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA-
|
| DBRS: AA
|
| Distribution: | Canada
|
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