By Cristal Cody
Prospect News, Sept. 26 - The Province of Ontario (Aa1/AA-/DBRS: AA) sold C$750 million of notes at 107.791 to yield 3.063% on Monday in an add-on to its 4% benchmark notes, a bond source said.
The notes due June 2, 2021 priced at a spread of 95 basis points over the Government of Canada benchmark.
National Bank Financial Inc. was the lead manager.
The issue was previously reopened on Sept. 1 in a C$750 million add-on priced at 105.409 to yield 3.344%, or a spread of 89 bps over the Canadian government benchmark.
The issue has a total of C$8.25 billion outstanding.
| Issuer: | Province of Ontario
|
| Securities: | Benchmark notes
|
| Amount: | C$750 million reopening
|
| Maturity: | June 2, 2021
|
| Bookrunner: | National Bank Financial Inc.
|
| Coupon: | 4%
|
| Price: | 107.791
|
| Yield: | 3.063%
|
| Spread: | 95 bps over Government of Canada benchmark
|
| Pricing date: | Sept. 26
|
| Settlement: | Sept. 29
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA-
|
| DBRS: AA
|
| Distribution: | Canada
|
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