By Cristal Cody
Eureka Springs, Ark., Aug. 16 – PSP Capital Inc. sold C$1.25 billion of 1.34% five-year medium-term notes at 99.971 to yield 1.46%, a market source said on Tuesday.
The company priced the series 8 notes (DBRS: AAA) with a spread of 69 basis points over the interpolated Government of Canada bond curve.
TD Securities Inc., CIBC World Markets Inc. and RBC Dominion Securities Inc. were the bookrunners.
The notes are unconditionally and irrevocably guaranteed by the Public Sector Pension Investment Board.
Montreal-based PSP Capital is a subsidiary and principal financing vehicle of the Public Sector Pension Investment Board.
| Issuer: | PSP Capital Inc.
|
| Guarantor: | Public Sector Pension Investment Board
|
| Amount: | C$1.25 billion
|
| Maturity: | Aug. 18, 2021
|
| Securities: | Medium-term notes
|
| Bookrunners: | TD Securities Inc., CIBC World Markets Inc., RBC Dominion Securities Inc.
|
| Coupon: | 1.34%
|
| Price: | 99.971
|
| Yield: | 1.46%
|
| Spread: | 69 bps over interpolated Government of Canada bond curve
|
| Pricing date: | Aug. 15
|
| Settlement date: | Aug. 18
|
| Rating: | DBRS: AAA
|
| Distribution: | Canada
|
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