By Cristal Cody
Chicago, April 7 – Ontario Teachers’ Finance Trust sold $1.5 billion of 3% five-year notes on Wednesday, according to a market source.
The notes priced with a spread of SOFR mid-swaps plus 55 basis points, or alternatively at Treasuries plus 34.2 bps. The deal was marketed in the SOFR mid-swaps plus 56 bps area.
BMO Capital Markets Corp., Citigroup Global Markets Inc., J.P. Morgan Securities LLC and RBC Capital Markets Corp. were mandated as bookrunners for the Rule 144A and Regulation S sale.
Ontario Teachers’ Finance Trust is a Toronto-based financing arm of the Ontario Teachers’ Pension Plan Board.
| Issuer: | Ontario Teachers’ Finance Trust
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| Amount: | $1.5 billion
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| Issue: | Notes
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| Maturity: | April 13, 2027
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| Bookrunners: | BMO Capital Markets Corp., Citigroup Global Markets Inc., J.P. Morgan Securities LLC and RBC Capital Markets Corp.
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| Coupon: | 3%
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| Spread: | SOFR mid-swaps plus 55 bps, or Treasuries plus 34.2 bps
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| Trade date: | April 6
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| Price talk: | SOFR mid-swaps plus 56 bps area
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