By Cristal Cody
Prospect News, June 19 - The Government of Prince Edward Island (Aa2/A/DBRS: A) priced C$200 million of 3.65% 30-year bonds at 99.728 to yield 3.665% on Tuesday, according to an informed source.
The bonds, which mature June 27, 2042, came at a spread of 129 basis points over the Government of Canada benchmark.
Scotia Capital Inc. was the lead manager.
Prince Edward Island last tapped the domestic debt markets on July 26, 2011 with a C$100 reopening of its 4.6% bonds due May 19, 2041 priced at 95.5 bps over the Government of Canada benchmark.
| Issuer: | Government of Prince Edward Island
|
| Amount: | C$200 million
|
| Maturity: | June 27, 2042
|
| Securities: | Bonds
|
| Bookrunner: | Scotia Capital Inc.
|
| Coupon: | 3.65%
|
| Price: | 99.728
|
| Yield: | 3.665%
|
| Spread: | 129 bps over Government of Canada benchmark
|
| Pricing date: | June 19
|
| Settlement date: | June 27
|
| Ratings: | Moody's: Aa2
|
| Standard & Poor's: A
|
| DBRS: A
|
| Distribution: | Canada
|
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