New Issue: Prince Edward Island sells C$100 million 4.6% bonds due 2041 at 93.5 bps spread

By Cristal Cody

Prospect News, March 16 - The Province of Prince Edward Island (Aa2/A//DBRS: A) sold C$100 million in a new benchmark deal on Wednesday, a source said.

The 4.6% bonds due May 19, 2041 priced at 99.295 to yield 4.644%, or a spread of 93.5 basis points over the Government of Canada benchmark.

Scotia Capital Inc. was the lead manager.

Issuer:	Province of Prince Edward Island
Amount:	C$100 million
Maturity:	May 19, 2041
Securities:	Benchmark bonds
Bookrunner:	Scotia Capital Inc.
Coupon:	4.6%
Price:	99.295
Yield:	4.644%
Spread:	93.5 bps over Government of Canada benchmark
Pricing date:	March 16
Settlement date:	March 25
Ratings:	Moody's: Aa2
	Standard & Poor's: A
	DBRS: A
Distribution:	Canada

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