Ontario sells C$1.6 bln of debt in reopening -term sheet

Wed Jun 12, 2013 10:21am EDT
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June 12 (Reuters) - The Canadian province of Ontario on Wednesday sold C$1.6 billion ($1.568 billion) of notes in a reopening of an existing issue, according to a term sheet seen by Reuters.

The 2.85 percent notes, due June 2, 2023, were priced at 97.737 to yield 3.116 percent or 90.5 basis points over the Canadian government benchmark.

The sale consists of C$600 million ($588 million) publicly sold notes, and C$1 billion ($980 million) of a private placement.

The investment dealer arm of Canadian Imperial Bank of Commerce was the lead manager of the sale.