By Cristal Cody
Prospect News, July 17 - The Province of Ontario (Aa2/AA-/DBRS: AA) priced C$750 million in a reopening of its 3.15% 10-year notes at 104.412 to yield 2.639% on Tuesday, a bond source said.
The notes due June 2, 2022 priced at a spread of 100 basis points over the Government of Canada benchmark.
Scotia Capital Inc. was the lead manager.
The province initially sold the issue on Nov. 3, 2011 in a C$750 million offering at 99.589 to yield 3.196%, or a spread of 87 bps over the government benchmark.
The province last reopened the notes on June 7 in a C$750 million offering priced at 102.737 to yield 2.833%, or a spread of 103.5 bps over the Government of Canada benchmark.
| Issuer: | Province of Ontario
|
| Amount: | C$750 million
|
| Maturity: | June 2, 2022 reopening
|
| Securities: | Notes
|
| Bookrunner: | Scotia Capital Inc.
|
| Coupon: | 3.15%
|
| Price: | 104.412
|
| Yield: | 2.639%
|
| Spread: | 100 bps over Government of Canada benchmark
|
| Call feature: | Non-callable
|
| Pricing date: | July 17
|
| Settlement date: | July 20
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: AA-
|
| DBRS: AA
|
| Distribution: | Canada
|
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