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CPPIB sets spread for three-year notes at mid-swaps plus 9 bps, sees $2.5 billion demand
By Devika Patel
Knoxville, Tenn., Jan. 23 – CPPIB Capital Inc. set the spread on its benchmark-sized offering of dollar-denominated notes (Aaa/AAA/AAA) due Jan. 29, 2021 at mid-swaps plus 9 basis points, according to a market source.
The spread is in line with talk set Monday at mid-swaps plus 9 bps.
Indications of interest are in excess of $2.5 billion, the source added.
The offering is set to price Tuesday.
Barclays, BNP Paribas Securities Corp., Citigroup Global Markets Inc. and TD Securities (USA) LLC are the bookrunners for the Rule 144A and Regulation S transaction.
CPPIB Capital is a Toronto-based investment management company for the Canada Pension Plan Investment Board.
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