By Cristal Cody
Prospect News, Feb. 8 - The Province of Ontario (Aa1/AA-/DBRS: AA) raised C$600 million in a reopening of its 3.5% bonds due June 2, 2043 at 99.243 to yield 3.54% on Wednesday, a bond source said.
The bonds priced at a spread of 89.5 basis points over the Government of Canada benchmark.
RBC Capital Markets Corp. was the lead manager.
The province first sold the issue on Jan. 26 in a C$600 million offering priced 99.187 to yield 3.543%, or 88 bps over the Government of Canada benchmark.
The total outstanding now is C$1.2 billion.
| Issuer: | Province of Ontario
|
| Amount: | C$600 million
|
| Maturity: | June 2, 2043
|
| Securities: | Reopening of bonds
|
| Bookrunner: | RBC Capital Markets Corp.
|
| Coupon: | 3.5%
|
| Price: | 99.243
|
| Yield: | 3.54%
|
| Spread: | 89.5 bps over Government of Canada benchmark
|
| Call feature: | Non-callable
|
| Pricing date: | Feb. 8
|
| Settlement date: | Feb. 13
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AA-
|
| DBRS: AA
|
| Distribution: | Canada
|
| Total outstanding: | C$1.2 billion, including C$600 million priced Jan. 26 at 99.187 to yield 3.543%, or 88 bps over benchmark
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
