By Cristal Cody
Prospect News, Sept. 9 - The Province of Ontario (Aa1/AA-//DBRS: AA) priced an upsized C$750 million in a reopening of its 4.65% benchmark bonds due June 2, 2041 at 114.18 to yield 3.845%, a bond source said Friday.
The bonds priced at a spread of 92 basis points over the Government of Canada benchmark. The deal was upsized from the province's typical C$600 million offering of long bonds, the source said.
BMO Capital Markets Corp. was the bookrunner.
The province last reopened the issue on May 18 in a sale of C$600 million of the 4.65% benchmark bonds at a spread of 84 bps over the government benchmark.
| Issuer: | Province of Ontario
|
| Amount: | C$750 million reopening
|
| Maturity: | June 2, 2041
|
| Securities: | Benchmark bonds
|
| Bookrunner: | BMO Capital Markets Corp.
|
| Coupon: | 4.65%
|
| Price: | 114.18
|
| Yield: | 3.845%
|
| Spread: | 92 bps over Government of Canada benchmark
|
| Pricing date: | Sept. 8
|
| Settlement date: | Sept. 13
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA-
|
| DBRS: AA
|
| Distribution: | Canada
|
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