By Cristal Cody
Prospect News, Dec. 10 - BP LP, owned by Brookfield Canada Office Properties, sold C$525 million of 3.244% seven-year Bay Wellington Tower Phase II senior secured mortgage bonds on Monday at par, a bond source said.
The bonds due Jan. 9, 2020 (A2) priced at a spread of 178 basis points over the interpolated Government of Canada bond curve.
The bonds have an average life of 6½ years.
RBC Capital Markets, CIBC World Markets Inc. and Scotia Capital Inc. were the lead managers.
The Bay Wellington Tower, owned by Brookfield, is a financial and legal office complex in Toronto's financial district.
| Issuer: | BP LP/Brookfield Canada Office Properties/ Bay Wellington Tower Phase II
|
| Amount: | C$525 million
|
| Maturity: | Jan. 9, 2020
|
| Securities: | Senior secured mortgage bonds
|
| Bookrunners: | RBC Capital Markets, CIBC World Markets Inc., Scotia Capital Inc.
|
| Coupon: | 3.244%
|
| Price: | Par
|
| Yield: | 3.244%
|
| Spread: | 178 bps over interpolated Government of Canada bond curve
|
| Pricing date: | Dec. 10
|
| Settlement date: | Jan. 9
|
| Rating: | Moody's: A2
|
| Distribution: | Canada
|
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