New Issue: Ontario prints $1.75 billion 1.25% three-year bonds at mid-swaps plus 31 bps

By Cristal Cody

Eureka Springs, Ark., June 8 – The Province of Ontario sold $1.75 billion of 1.25% three-year bonds on Wednesday at mid-swaps plus 31 basis points, or Treasuries plus 39.9 bps, according to an FWP filing with the Securities and Exchange Commission.

The notes (Aa2/A+/DBRS: AA) priced at 99.765 to yield 1.33%.

Barclays, Citigroup Global Markets Inc., BofA Merrill Lynch, RBC Capital Markets, LLC, BMO Capital Markets Corp., CIBC World Markets Corp., National Bank of Canada Financial Inc., Scotia Capital (USA) Inc. and TD Securities (USA) LLC were the underwriters.

The proceeds will be used for general provincial purposes.

Issuer:	Province of Ontario
Amount:	$1.75 billion
Maturity:	June 17, 2019
Securities:	Senior notes
Underwriters:	Barclays, Citigroup Global Markets Inc., BofA Merrill Lynch, RBC Capital Markets, LLC, BMO Capital Markets Corp., CIBC World Markets Corp., National Bank of Canada Financial Inc., Scotia Capital (USA) Inc., TD Securities (USA) LLC
Coupon:	1.25%
Price:	99.765
Yield:	1.33%
Spread:	Mid-swaps plus 31 bps, or Treasuries plus 39.9 bps
Pricing date:	June 8
Settlement date:	June 17
Ratings:	Moody’s: Aa2
	S&P: A+
	DBRS: AA
Distribution:	SEC registered

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