By Cristal Cody
Prospect News, Jan. 9 - The Province of British Columbia (Aaa/AAA/DBRS: AA) priced C$500 million in a reopening of its 2.7% notes due Dec. 18, 2022 at 99.748 to yield 2.729% on Wednesday, according to an informed bond source.
The notes priced at a spread of 82 basis points over the Government of Canada benchmark.
National Bank Financial Inc. was the lead manager.
The province last tapped the issue on Sept. 25 in a C$400 million offering that priced at 100.47 to yield 2.647%, or a spread of 82 bps over the Government of Canada benchmark.
The issue originally priced on May 29, 2012, when the province sold C$500 million of the notes at 99.582 to yield 2.746%, or 91 bps over the Canadian government benchmark.
The total outstanding is C$1.4 billion.
| Issuer: | Province of British Columbia
|
| Amount: | C$500 million reopening
|
| Maturity: | Dec. 18, 2022
|
| Securities: | Notes
|
| Bookrunner: | National Bank Financial Inc.
|
| Coupon: | 2.7%
|
| Price: | 99.748
|
| Yield: | 2.729%
|
| Spread: | 82 bps over Government of Canada benchmark
|
| Pricing date: | Jan. 9
|
| Settlement date: | Jan. 14
|
| Ratings: | Moody's: Aaa
|
| Standard & Poor's: AAA
|
| DBRS: AA
|
| Distribution: | Canada
|
| Total outstanding: | C$1.4 billion
|
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