By Rebecca Melvin
New York, March 30 - Teranet Holdings LP sold Wednesday afternoon C$525 million of senior secured notes in two tranches, including one reopening and one new issue, a syndicate source said.
The company sold C$250 million 4.807% notes due Dec. 16, 2020 at par, or a spread of 175 basis points over the Canadian government benchmark. The new tranche is on top of an existing $450 million of the 4.807% bonds, which priced in December, for a total C$700 million outstanding of the 2020 paper.
Teranet also sold C$275 million 6.1% bonds due June 17, 2041 at par, which represents a new bond issue.
Bookrunners included Scotia Capital Inc., which was upper left, BMO Capital Markets Corp. and RBC Capital Markets Corp.
Toronto-based Teranet owns the Province of Ontario's electronic land registration system.
| Issuer: | Teranet Holdings LP
|
| Amount: | C$525 million
|
| Securities: | Senior secured notes
|
| Bookrunners: | Scotia Capital Inc., BMO Capital Markets Corp., RBC Capital Markets Corp.
|
| Pricing date: | March 30
|
|
|
| Notes due 2020
|
| Amount: | C$250 million reopening
|
| Maturity: | Dec. 16, 2020
|
| Coupon: | 4.807%
|
| Price: | Par
|
| Yield: | 4.807%
|
| Spread: | 175 bps over Canadian government benchmark
|
| Total amount: | C$700 million, including C$450 million priced in December
|
|
|
| Bonds due 2041
|
| Amount: | C$275 million
|
| Maturity: | June 17, 2041
|
| Coupon: | 6.1%
|
| Price: | Par
|
| Yield: | 6.1%
|
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