By Cristal Cody
Chicago, April 11 – Omers Finance Trust priced $1.1 billion of sustainable notes in two tranches on Monday, a market source noted.
The company started holding fixed-income calls last Monday for the Rule 144A and Regulation S offering.
The issue priced as $600 million of 3.5% 10-year notes with a spread of Treasuries plus 75 basis points and $500 million of 4% 30-year notes that came with a Treasuries plus 125 bps spread,
The 10-year notes had been talked for a spread in the 70 bps to 80 bps area over Treasuries and the 30-year notes had talk in the Treasuries plus 137.5 bps area.
HSBC is the structuring agent on the deal and a bookrunner. RBC Capital Markets Corp. and Scotia are also bookrunners.
Omers Finance is a Toronto-based financing arm of the Ontario Municipal Employees Retirement System.
| Issuer: | Omers Finance Trust
|
| Amount: | $1.1 billion
|
| Issue: | Sustainable notes
|
| Bookrunners: | HSBC, RBC Capital Markets Corp. and Scotia
|
| Trade date: | April 11
|
| Settlement date:
|
| Ratings: | Moody’s:
|
| S&P:
|
| Fitch:
|
| Distribution: | Rule 144A and Regulation S
|
| Marketing: | Investor calls
|
|
|
| 10-year notes
|
| Amount: | $600 million
|
| Maturity: | April 19, 2032
|
| Coupon: | 3.5%
|
| Spread: | Treasuries plus 75 bps
|
| Price talk: | Treasuries plus 70 bps to 80 bps area
|
|
|
| 30-year notes
|
| Amount: | $500 million
|
| Maturity: | April 19, 2052
|
| Coupon: | 4%
|
| Spread: | Treasuries plus 125 bps
|
| Price talk: | Treasuries plus 137.5 bps area
|
|
|
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