By Cristal Cody
Prospect News, Nov. 7 - The Province of Saskatchewan (Aa1/AAA/DBRS: AA) sold C$300 million in a reopening of its 3.4% debentures due Feb. 3, 2042 at 104.124 to yield 3.182% on Wednesday, according to an informed source.
The debentures priced at 86.5 basis points over the Government of Canada benchmark.
The issue is non-callable.
RBC Capital Markets Corp., CIBC World Markets Inc. and BMO Capital Markets Corp. were the lead managers.
The province first sold the issue on Jan. 26, 2012 in a C$300 million offering that priced at 99.126 to yield 3.447%, or 78 bps over the Government of Canada benchmark. The total outstanding is C$600 million.
| Issuer: | Province of Saskatchewan
|
| Amount: | C$300 million reopening
|
| Maturity: | Feb. 3, 2042
|
| Securities: | Debentures
|
| Bookrunners: | RBC Capital Markets Corp., CIBC World Markets Inc., BMO Capital Markets Corp.
|
| Coupon: | 3.4%
|
| Price: | 104.124
|
| Yield: | 3.182%
|
| Spread: | 86.5 bps over Government of Canada benchmark
|
| Call feature: | Non-callable
|
| Pricing date: | Nov. 7
|
| Settlement date: | Nov. 15
|
| Ratings: | Moody's: Aa1
|
| Standard & Poor's: AAA
|
| DBRS: AA
|
| Distribution: | Canada
|
| Total outstanding: | C$600 million, including C$300 million priced Jan. 26, 2012
|
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