Published on 10/5/2011 in the Prospect News Canadian Bonds Daily.
New Issue: City of Ottawa sells C$75 million of 10-year serial bonds
By Cristal Cody
Prospect News, Oct. 5 - The City of Ottawa (Aaa/AA+/) in Ontario sold C$75 million of municipal bonds with serial maturities from 2012 to 2021 on Wednesday, according to an informed bond source.
The bonds priced with coupons of 1.1% to 3.4% to yield 1.11% to 3.44% over the 10 years.
CIBC World Markets Inc. was the lead manager and BMO Capital Markets Corp. was a co-manager of the sale.
The bonds are expected to settle on Oct. 19.
| Issuer: | City of Ottawa
|
| Amount: | C$75 million
|
| Maturity: | Serial
|
| Securities: | Municipal bonds
|
| Bookrunner: | CIBC World Markets Inc.
|
| Co-manager: | BMO Capital Markets Corp.
|
| Pricing date: | Oct. 5
|
| Settlement date: | Oct. 19
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AA+
|
| Distribution: | Canada
|
|
|
| Amount | Maturity | Coupon | Price | Yield | Spread
|
| C$6.618 million Oct. 19, 2012 | 1.1% | 99.99 | 1.11% | 26 bps
|
| C$6.8 million | Oct. 19, 2013 | 1.3% | 99.941 | 1.33% | 44 bps
|
| C$6.987 million Oct. 19, 2014 | 1.6% | 99.942 | 1.62% | 57 bps
|
| C$7.179 million Oct. 19, 2015 | 1.9% | 100 | 1.9% | 71 bps
|
| C$7.377 million Oct. 19, 2016 | 2.15% | 99.882 | 2.175% | 78.5 bps
|
| C$7.579 million Oct. 19, 2017 | 2.5% | 99.889 | 2.52% | 99 bps
|
| C$7.788 million Oct. 19, 2018 | 2.75% | 99.747 | 2.79% | 112 bps
|
| C$8.002 million Oct. 19, 2019 | 3.05% | 99.93 | 3.06% | 121 bps
|
| C$8.222 million Oct. 19, 2020 | 3.25% | 99.806 | 3.27% | 125.5 bps
|
| C$8.448 million Oct. 19, 2021 | 3.4% | 99.664 | 3.44% | 131 bps
|
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