By Marisa Wong
Los Angeles, April 7 – The Province of Ontario (Aa3/A+/AA-/AA (low)) priced $3 billion of 1.05% five-year bonds on Wednesday at mid-swaps plus 11 basis points, or a Treasuries plus 24.3 bps spread, according to an FWP filing with the Securities and Exchange Commission.
The notes priced at 99.801 to yield 1.091%.
Citigroup Global Markets Ltd., HSBC Bank plc, J.P. Morgan Securities plc and Scotia Capital (USA) Inc. were the bookrunners.
Proceeds from the sale will be used for general provincial purposes.
| Issuer: | Province of Ontario
|
| Amount: | $3 billion
|
| Description: | Bonds
|
| Maturity: | April 14, 2026
|
| Bookrunners: | Citigroup Global Markets Ltd., HSBC Bank plc, J.P. Morgan Securities plc and Scotia Capital (USA) Inc.
|
| Coupon: | 1.05%
|
| Price: | 99.801
|
| Yield: | 1.091%
|
| Spread: | Mid-swaps plus 11 bps, or Treasuries plus 24.3 bps
|
| Trade date: | April 7
|
| Settlement date: | April 14
|
| Ratings: | Moody’s: Aa3
|
| S&P: A+
|
| Fitch: AA-
|
| DBRS: AA (low)
|
| Distribution: | SEC registered
|
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