By Cristal Cody
Prospect News, April 18 - The Province of Ontario (Aa1/AA-/DBRS: AA) sold C$600 million in a reopening of the 3.5% bonds due June 2, 2043 at 97.331 to yield 3.644% on Wednesday, a bond source said.
The bonds priced at a spread of 104 basis points over the Government of Canada benchmark.
CIBC World Markets Inc. was the lead manager.
The province originally sold the issue on Jan. 26 in a C$600 million offering at 99.187 to yield 3.543%, or 88 bps over the Government of Canada benchmark.
The issue was last reopened earlier in the month on April 11 to sell C$600 million of the bonds at 98.30 to yield 3.591%, or a spread of 100.5 bps over the Government of Canada benchmark.
The province originally sold the issue on Jan. 26 in a C$600 million offering at 99.187 to yield 3.543%, or 88 bps over the Government of Canada benchmark.
The total outstanding now is C$3.3 billion.
| Issuer: | Province of Ontario
|
| Amount: | C$600 million
|
| Maturity: | June 2, 2043 reopening
|
| Securities: | Bonds
|
| Bookrunner: | CIBC World Markets Inc.
|
| Coupon: | 3.5%
|
| Price: | 97.331
|
| Yield: | 3.644%
|
| Spread: | 104 bps over Government of Canada benchmark
|
| Call feature: | Non-callable
|
| Pricing date: | April 18
|
| Settlement date: | April 23
|
| Ratings: Moody's: Aa1
|
| Standard & Poor's: AA-
|
| DBRS: AA
|
| Distribution: | Canada
|
| Total outstanding: C$3.3 billion
|
© 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.
