New Issue: Ontario prices $1.75 billion of 2.55% three-year bonds at mid-swaps plus 15 bps

By Cristal Cody

Tupelo, Miss., April 17 – The Province of Ontario priced $1.75 billion of 2.55% three-year bonds on Wednesday at 99.88 to yield 2.592%, according to an FWP filing with the Securities and Exchange Commission.

The bonds (Aa2/A+/AA-) priced at a spread of mid-swaps plus 15 basis points, or Treasuries plus 22 bps.

The underwriters were Barclays, Citigroup Global Markets Ltd., Goldman Sachs International, TD Securities (USA) LLC, BMO Capital Markets Corp., CIBC World Markets Corp., National Bank of Canada Financial Inc., RBC Capital Markets, LLC and Scotia Capital (USA) Inc.

Proceeds will be used for general provincial purposes.

Issuer:	Province of Ontario
Amount:	$1.75 billion
Description:	Bonds
Maturity:	April 25, 2022
Bookrunners:	Barclays, Citigroup Global Markets Ltd., Goldman Sachs International, TD Securities (USA) LLC, BMO Capital Markets Corp., CIBC World Markets Corp., National Bank of Canada Financial Inc., RBC Capital Markets, LLC and Scotia Capital (USA) Inc.
Coupon:	2.55%
Price:	99.88
Yield:	2.592%
Spread:	Mid-swaps plus 15 bps, or Treasuries plus 22 bps
Call feature:	None
Trade date:	April 17
Settlement date:	April 25
Ratings:	Moody’s: Aa3
	S&P: A+
	Fitch: AA-
Distribution:	SEC registered

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