By Devika Patel
Knoxville, Tenn., Jan. 13 – The Province of Ontario sold $1.5 billion of 2.125% 10-year global notes (Aa3/A+/AA-/AA low) on Thursday at 99.857 to yield 2.141%, according to an FWP filing with the Securities and Exchange Commission.
The bonds priced with a spread of SOFR mid-swaps plus 60 basis points.
The notes were talked to price in the SOFR mid-swaps plus 60 bps area. Ontario launched the $1.5 billion of notes at SOFR mid-swaps plus 60 bps.
BofA Securities Inc., HSBC Bank plc, Morgan Stanley & Co. International plc and TD Securities (USA) LLC are the bookrunners.
Proceeds from the sale will be used for general provincial purposes.
| Issuer: | Province of Ontario
|
| Amount: | $1.5 billion
|
| Issue: | Global notes
|
| Maturity: | Jan. 21, 2032
|
| Bookrunners: | BofA Securities Inc., HSBC Bank plc, Morgan Stanley & Co. International plc and TD Securities (USA) LLC
|
| Coupon: | 2.125%
|
| Price: | 99.857
|
| Yield: | 2.141%
|
| Spread: | SOFR mid-swaps plus 60 bps, or Treasuries plus 41.2 bps
|
| Trade date: | Jan. 13
|
| Settlement date: | Jan. 21
|
| Ratings: | Moody’s: Aa3
|
| S&P: A+
|
| Fitch: AA-
|
| DBRS: AA (low)
|
| Distribution: | SEC registered
|
| Price guidance: | SOFR mid-swaps plus the 60 bps area
|
| Cusip: | 683234AU2
|
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