By Cristal Cody
Prospect News, March 24 - Canada Safeway Ltd., a Calgary, Alta.-based unit of Safeway Inc., priced C$300 million of 3% senior notes due March 31, 2014 at 99.917 to yield 3.029% on Thursday, an informed source said.
The notes (/BBB//DBRS: BBB) priced at a spread of 89.5 basis points over the Government of Canada benchmark.
The bonds are guaranteed by Safeway. The issue has a Canada call at 24 bps over the government benchmark.
BMO Capital Markets Corp. and TD Securities Inc. were the lead managers. CIBC World Markets Inc. was a co-manager.
Safeway operates more than 1,700 stores across the United States and Canada.
| Issuer: | Canada Safeway Ltd.
|
| Guarantor: | Safeway Inc.
|
| Amount: | C$300 million
|
| Maturity: | March 31, 2014
|
| Securities: | Senior notes
|
| Bookrunners: | BMO Capital Markets Corp., TD Securities Inc.
|
| Co-managers: | CIBC World Markets Inc.
|
| Coupon: | 3%
|
| Price: | 99.917
|
| Yield: | 3.029%
|
| Spread: | 89.5 bps over Government of Canada benchmark
|
| Call feature: | 24 bps over government benchmark
|
| Pricing date: | March 24
|
| Settlement date: | March 31
|
| Ratings: | Standard & Poor's: BBB
|
| DBRS: BBB
|
| Distribution: | Canada
|
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