Ontario offers 10-year notes at SOFR mid-swaps plus 60 bps area

By Devika Patel and Cristal Cody

Knoxville, Tenn., Jan. 13 – The Province of Ontario plans to price U.S. dollar-denominated fixed-rate global notes due Jan. 21, 2032, according to a market source and additional details from a 424B2 filed with the Securities and Exchange Commission.

The notes are talked with a yield equivalent to SOFR mid-swaps plus the 60 basis points area, the source said.

The bonds will have a par call.

BofA Securities, HSBC, Morgan Stanley and TD Securities are the bookrunners.

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

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