Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers B > Headlines for British Columbia > News item |
British Columbia to sell U.S. dollar four-year bonds; initial talk SOFR mid-swaps plus 52 bps area
By Mary-Katherine Stinson and Cristal Cody
Lexington, Ky., April 17 – The province of British Columbia plans to price a U.S. dollar-denominated benchmark offering of fixed-rate global bonds, series BCUSG-15, due April 24, 2028, according to a 424B2 filing with the Securities and Exchange Commission and details from a market source.
Initial price talk is in the SOFR mid-swaps plus 52 basis points area.
The bonds may not be redeemed prior to maturity unless certain events occur involving Canadian taxation.
BofA Securities, Inc., J.P. Morgan Securities plc, National Bank of Canada Financial Inc., RBC Capital Markets, LLC, and Scotia Capital (USA) Inc. are the joint bookrunning managers.
Bank of New York Mellon will be the fiscal agent.
The province will use government counsel for Canadian law, while Shearman & Sterling LLP will be the province’s U.S. counsel.
The underwriters will be advised by Osler, Hoskin & Harcourt LLP (Canadian law) and Davis Polk & Wardwell LLP (U.S. law).
The bonds will be listed in Luxembourg.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.