Ontario offers 10-year bonds; initial talk mid-swaps plus 27 bps area

By Devika Patel and Cristal Cody

Knoxville, Tenn., Feb. 18 – The Province of Ontario is in the market with a planned offering of U.S. dollar-denominated 10-year fixed-rate bonds, according to a 424B2 filed with the Securities and Exchange Commission.

Initial price talk is in the mid-swaps plus 27 basis points area.

Pricing is expected Thursday.

The bonds will have a par call.

BMO Capital Markets Corp., Barclays, Goldman Sachs & Co. LLC and Morgan Stanley & Co. LLC are the bookrunners.

Proceeds from the sale will be used for general provincial purposes.

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