New Issue: Ontario sells $2 billion 1.6% five-year bonds at mid-swaps plus 44 bps

By Andrea Heisinger

New York, Sept. 14 - The Province of Ontario sold $2 billion of 1.6% five-year bonds on Wednesday to yield Treasuries plus 75.35 basis points, or mid-swaps plus 44 bps, according to an FWP filing with the Securities and Exchange Commission.

The notes (Aa1/AA-/) were priced at 99.88 to yield 1.625%. They are non-callable.

Bookrunners were Bank of America Merrill Lynch, Barclays Capital Inc., Goldman Sachs & Co. and RBC Capital Markets LLC.

Co-managers were National Bank Financial Inc., BMO Capital Markets Corp., CIBC World Markets Corp., Scotia Capital USA Inc. and TD Securities USA LLC.

The issuer is based in Toronto.

Issuer:	Province of Ontario
Issue:	Bonds
Amount:	$2 billion
Maturity:	Sept. 21, 2016
Bookrunners:	Bank of America Merrill Lynch, Barclays Capital Inc., Goldman Sachs & Co., RBC Capital Markets LLC
Co-managers:	National Bank Financial Inc., BMO Capital Markets Corp., CIBC World Markets Corp., Scotia Capital USA Inc., TD Securities USA LLC
Coupon:	1.6%
Price:	99.88
Yield:	1.625%
Spread:	Treasuries plus 75.35 bps, mid-swaps plus 44 bps
Call:	Non-callable
Trade date:	Sept. 14
Settlement date:	Sept. 21
Ratings:	Moody's: Aa1
	Standard & Poor's: AA-

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