By Devika Patel and Cristal Cody
Knoxville, Tenn., Oct. 6 – The Province of Ontario sold $1 billion of 1.8% 10-year bonds (Aa2/A+/AA-/AA low) on Wednesday at 99.7 to yield 1.833%, according to an FWP filing with the Securities and Exchange Commission.
The bonds priced with a spread of mid-swaps plus 31 basis points.
The notes were talked to price in the mid-swaps plus 31 bps area.
The bookrunners were BMO Capital Markets Corp., Deutsche Bank AG, London Branch, Goldman Sachs International and RBC Capital Markets LLC.
Proceeds from the sale will be used for general provincial purposes.
| Issuer: | Province of Ontario
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| Amount: | $1 billion
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| Description: | Bonds
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| Maturity: | Oct. 14, 2031
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| Bookrunners: | BMO Capital Markets Corp., Deutsche Bank AG, London Branch, Goldman Sachs International and RBC Capital Markets LLC
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| Coupon: | 1.8%
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| Price: | 99.7
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| Yield: | 1.833%
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| Spread: | Mid-swaps plus 31 bps, or Treasuries plus 32.5 bps
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| Trade date: | Oct. 6
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| Settlement date: | Oct. 14
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| Ratings: | Moody’s: Aa3
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| S&P: A+
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| Fitch: AA-
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| DBRS: AA (low)
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| Distribution: | SEC registered
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| Price guidance: | Mid-swaps plus 31 bps area
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| Cusip: | 68323AFJ8
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