By Cristal Cody
Tupelo, Miss., April 8 – Omers Finance Trust priced $1 billion of 1.125% three-year senior notes (Aa1/AA+/AAA) on Wednesday at a spread of Treasuries plus 80 basis points, according to a market source.
Initial price talk was in the Treasuries plus 80 bps area.
BMO Capital Markets Corp., HSBC Securities (USA) Inc., RBC Capital Markets, LLC and TD Securities (USA) LLC were the lead managers.
The issuer’s debt is guaranteed by Omers Administration Corp.
Omers Finance is a Toronto-based financing arm of the Ontario Municipal Employees Retirement System.
| Issuer: | Omers Finance Trust
|
| Guarantor: | Omers Administration Corp.
|
| Amount: | $1 billion
|
| Maturity: | April 14, 2023
|
| Description: | Senior notes
|
| Bookrunners: | BMO Capital Markets Corp., HSBC Securities (USA) Inc., RBC Capital Markets, LLC and TD Securities (USA) LLC
|
| Coupon: | 1.125%
|
| Spread: | Treasuries plus 80 bps
|
| Trade date: | April 8
|
| Ratings: | Moody’s: Aa1
|
| S&P: AA+
|
| Fitch: AAA
|
| Distribution: | Rule 144A and Regulation S
|
| Price guidance: | Treasuries plus 80 bps area
|
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