By Cristal Cody
Tupelo, Miss., May 23 - OPB Finance Trust sold C$250 million of 2.9% 10-year debentures at 99.931 to yield 2.908%, according to an informed source on Thursday.
The series C debentures due May 24, 2023 (/AAA/DBRS: AA) priced at a spread of 98 basis points over the Canada bond curve, at the tight end of talk at launch of 100 bps, plus or minus 2 bps.
TD Securities Inc. and RBC Capital Markets were the joint bookrunners.
The debentures are unconditionally and irrevocably guaranteed by the Ontario Pension Board.
The trust, the principal financing vehicle of the Ontario Pension Board, will use the proceeds to finance recent real estate transactions.
| Issuer: | OPB Finance Trust
|
| Guarantor: | Ontario Pension Board
|
| Amount: | C$250 million
|
| Maturity: | May 24, 2023
|
| Securities: | Debentures
|
| Bookrunners: | TD Securities Inc., RBC Capital Markets
|
| Coupon: | 2.9%
|
| Price: | 99.931
|
| Yield: | 2.908%
|
| Spread: | 98 bps over Canada bond curve
|
| Pricing date: | May 21
|
| Settlement date: | May 24
|
| Ratings: | Standard & Poor's: AAA
|
| DBRS: AA
|
| Distribution: | Canada
|
| Price talk: | 100 bps, plus or minus 2 bps
|
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