Published on 2/21/2017 in the Prospect News Canadian Bonds Daily and Prospect News Investment Grade Daily.
New Issue: Metro prices C$400 million three-year floaters at CDOR plus 57 bps
By Cristal Cody
Tupelo, Miss., Feb. 21 – Metro Inc. (/BBB/DBRS: BBB) priced C$400 million of three-year floating-rate notes at par to yield CDOR plus 57 basis points on Tuesday, according to a market source.
TD Securities Inc., BMO Nesbitt Burns Inc. and National Bank Financial Inc. were the bookrunners.
Metro is a Montreal-based food retailer in the Quebec and Ontario provinces.
| Issuer: | Metro Inc.
|
| Amount: | C$400 million
|
| Maturity: | Feb. 27, 2020
|
| Securities: | Floating-rate notes
|
| Bookrunners: | TD Securities Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc.
|
| Coupon: | CDOR plus 57 bps
|
| Price: | Par
|
| Yield: | CDOR plus 57 bps
|
| Pricing date: | Feb. 21
|
| Settlement date: | Feb. 26
|
| Ratings: | S&P: BBB
|
| DBRS: BBB
|
| Distribution: | Canada
|
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