New Issue: Saskatchewan issues C$300 million 3.4% debentures due 2042 at 78 bps spread

By Cristal Cody

Prospect News, Jan. 26 - The Province of Saskatchewan (Aa1/AAA/DBRS: AA) sold C$300 million of 3.4% debentures due Feb. 3, 2042 at 99.126 to yield 3.447% on Thursday, according to a bond source.

The debentures priced at 78 basis points over the Government of Canada benchmark.

The long bonds are non-callable.

CIBC World Markets Inc. was the lead manager. Co-managers were RBC Capital Markets Corp., TD Securities Inc., BMO Capital Markets Corp. and Scotia Capital Inc.

Issuer:	Province of Saskatchewan
Amount:	C$300 million
Maturity:	Feb. 3, 2042
Securities:	Debentures
Bookrunner:	CIBC World Markets Inc.
Co-managers:	RBC Capital Markets Corp., TD Securities Inc., BMO Capital Markets Corp., Scotia Capital Inc.
Coupon:	3.4%
Price:	99.126
Yield:	3.447%
Spread:	78 bps over Government of Canada benchmark
Call feature:	Non-callable
Pricing date:	Jan. 26
Settlement date:	Feb. 3
Ratings:	Moody's: Aa1
	Standard & Poor's: AAA
	DBRS: AA
Distribution:	Canada

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