By Cristal Cody
Tupelo, Miss., Sept. 29 – The Province of Ontario (Aa3/A+/AA-) priced $1.25 billion of 1.125% 10-year global notes on Tuesday at mid-swaps plus 45 basis points, or a Treasuries plus 48.7 bps spread, according to a market source and an FWP filing with the Securities and Exchange Commission.
Initial price talk was in the mid-swap plus 46 bps area.
The notes priced at 99.934 to yield 1.132%.
Barclays, BMO Capital Markets Corp., Goldman Sachs International and J.P. Morgan Securities plc were the bookrunners.
Proceeds will be used for general provincial purposes.
| Issuer: | Province of Ontario
|
| Amount: | $1.25 billion
|
| Description: | Global notes
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| Maturity: | Oct. 7, 2030
|
| Bookrunners: | Barclays, BMO Capital Markets Corp., Goldman Sachs International and J.P. Morgan Securities plc
|
| Coupon: | 1.125%
|
| Price: | 99.934
|
| Yield: | 1.132%
|
| Spread: | Mid-swaps plus 45 bps, or Treasuries plus 48.7 bps
|
| Trade date: | Sept. 29
|
| Settlement date: | Oct. 7
|
| Ratings: | Moody’s: Aa3
|
| S&P: A+
|
| Fitch: AA-
|
| Distribution: | SEC registered
|
| Price guidance: | Mid-swaps plus 46 bps area
|
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