By Cristal Cody
Prospect News, March 29 - The Province of Quebec (Aa2/A+/DBRS: A) sold C$500 million of its 4.25% debentures due Dec. 1, 2043 at 110.863 to yield 3.667% in a reopening of the issue on Thursday, a bond source said.
The province sold the debentures at a spread of 101.5 basis points over the Government of Canada benchmark.
National Bank of Canada was the lead manager.
The province originally priced the debentures in a C$500 million offering on Aug. 12 at 103.875 to yield 4.034%, or 97 bps over the government benchmark. The total outstanding is C$3.5 billion.
Issuer: | Province of Quebec
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Amount: | C$500 million
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Maturity: | Dec. 1, 2043
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Securities: | Debentures
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Bookrunner: | National Bank of Canada
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Coupon: | 4.25%
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Price: | 110.863
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Yield: | 3.667%
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Spread: | 101.5 bps over Government of Canada benchmark
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Pricing date: | March 29
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Ratings: | Moody's: Aa2
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| Standard & Poor's: A+
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| DBRS: A
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Distribution: | Canada
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