New Issue: Ontario sells C$600 million 3.5% bonds due 2043 at 88 bps spread

By Cristal Cody

Prospect News, Jan. 26 - The Province of Ontario (Aa1/AA-/DBRS: AA) priced C$600 million 3.5% bonds due June 2, 2043 at 99.187 to yield 3.543% on Thursday, a bond source said.

The bonds came at a spread of 88 basis points over the Government of Canada benchmark.

CIBC World Markets Inc. was the lead manager.

RBC Capital Markets Corp., TD Securities Inc., BMO Capital Markets Corp., National Bank Financial Inc., Scotia Capital Inc. and Merrill Lynch Canada Inc. were the co-managers.

Issuer:	Province of Ontario
Amount:	C$600 million
Maturity:	June 2, 2043
Securities:	Bonds
Bookrunner:	CIBC World Markets Inc.
Co-managers:	RBC Capital Markets Corp., TD Securities Inc., BMO Capital Markets Corp., National Bank Financial Inc., Scotia Capital Inc., Merrill Lynch Canada Inc.
Coupon:	3.5%
Price:	99.187
Yield:	3.543%
Spread:	88 bps over Government of Canada benchmark
Call feature:	Non-callable
Pricing date:	Jan. 26
Settlement date:	Jan. 31
Ratings:	Moody's: Aa1
	Standard & Poor's: AA-
	DBRS: AA
Distribution:	Canada

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