Ontario offers three-year notes at mid-swaps plus 16 bps area

By Cristal Cody

Tupelo, Miss., Feb. 5 – The Province of Ontario (Aa2/AA-) is expected to price a U.S. dollar-denominated offering of three-year global notes on Wednesday, a market source said.

The notes were initially talked to price with a spread in the mid-swap plus 16 basis points area.

Barclays, BofA Merrill Lynch, BMO Capital Markets Corp. and Morgan Stanley & Co. LLC are the bookrunners.

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