By Cristal Cody
Prospect News, March 8 - The Regional Municipality of Peel (Aaa///DBRS: AAA) in Ontario sold C$200 million in a reopening of 5.1% bonds due June 29, 2040 at 101.987 to yield 4.97% on Tuesday, a source said.
The bonds priced at a spread of 112.5 basis points over the Government of Canada benchmark.
CIBC World Markets Inc. was the bookrunner.
The municipality originally sold C$300 million of the issue on June 16, 2010 at a spread of 133 bps. The issue has a total outstanding of C$500 million.
| Issuer: | Regional Municipality of Peel, Ont.
|
| Amount: | C$200 million
|
| Maturity: | June 29, 2040
|
| Securities: | Bonds
|
| Bookrunner: | CIBC World Markets Inc.
|
| Coupon: | 5.1%
|
| Price: | 101.987
|
| Yield: | 4.97%
|
| Spread: | 112.5 bps over Government of Canada benchmark
|
| Pricing date: | March 8
|
| Settlement date: | March 15
|
| Ratings: | Moody's: Aaa
|
| DBRS: AAA
|
| Distribution: | Canada
|
| Total amount: | C$500 million, including C$300 million priced June 16, 2010 at 133 bps spread
|
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