By Wendy Van Sickle and Cristal Cody
Columbus, Ohio, Feb. 18 – The Province of Ontario (Aa3/A+/AA-/AA (low)) priced $1.5 billion of 1.6% 10-year bonds on Thursday at mid-swaps plus 26 basis points, or a Treasuries plus 33.1 bps spread, according to an FWP filing with the Securities and Exchange Commission.
The notes priced at 99.798 to yield 1.622%.
The notes were talked to price in the mid-swaps plus 27 bps area.
Barclays Bank plc, BMO Capital Markets Corp., Goldman Sachs International and Morgan Stanley & Co. International plc were the bookrunners.
Proceeds will be used for general provincial purposes.
| Issuer: | Province of Ontario
|
| Amount: | $1.5 billion
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| Description: | Bonds
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| Maturity: | Feb. 25, 2031
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| Bookrunners: | Barclays Bank plc, BMO Capital Markets Corp., Goldman Sachs International and Morgan Stanley & Co. International plc
|
| Coupon: | 1.6%
|
| Price: | 99.798
|
| Yield: | 1.622%
|
| Spread: | Mid-swaps plus 26 bps, or Treasuries plus 33.1 bps
|
| Trade date: | Feb. 18
|
| Settlement date: | Feb. 25
|
| Ratings: | Moody’s: Aa3
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| S&P: A+
|
| Fitch: AA-
|
| DBRS: AA (low)
|
| Distribution: | SEC registered
|
| Price talk: | Mid-swaps plus 27 bps area
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