New Issue: MCAP prices C$150 million 3.955% five-year secured notes at par

By Cristal Cody

Tupelo, Miss., March 4 - MCAP Commercial LP sold C$150 million of 3.955% five-year senior secured notes at par in a private placement offering on Tuesday, according to an informed source.

The notes due March 11, 2019 (DBRS: BBB) priced with a spread of 230 basis points over the Government of Canada benchmark.

RBC Dominion Securities Inc. was the bookrunner.

MCAP is a mortgage financing company based in Toronto.

Issuer:	MCAP Commercial LP
Guarantors:	4223667 Canada Inc., MCAP Financial Corp., MCAP Financial LP, MCAP Leasing Inc. and MCAP Leasing LP
Amount:	C$150 million
Maturity:	March 11, 2019
Securities:	Senior secured notes
Bookrunner:	RBC Dominion Securities Inc.
Co-managers:	BMO Capital Markets Corp., TD Securities Inc., National Bank Financial Inc., Scotia Capital Inc.
Coupon:	3.955%
Price:	Par
Yield:	3.955%
Spread:	Government of Canada benchmark plus 230 bps
Call feature:	Canada Bond Yield plus 57.5 bps
Pricing date:	March 4
Settlement date:	March 11
Rating:	DBRS: BBB
Distribution:	Canada private placement

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