Ontario sells C$650 mln of debt in reopening - term sheet

Thu Aug 22, 2013 11:12am EDT
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Aug 22 (Reuters) - The Canadian province of Ontario on Thursday sold C$650 million ($619 million) of debt in a reopening of an existing issue, according a term sheet seen by Reuters.

The issue consists of two parts, C$250 million ($238 million) is a public sale of notes, and C$400 million ($381 million) is placed on behalf of the syndicate. The terms of the sale apply to both parts.

The 3.45 percent notes, due June 2, 2045, were priced at 86.246 to yield 4.242 percent or 103.5 basis points over the Canadian government benchmark.

The investment dealer arm of Bank of Nova Scotia is lead manager of the sale.

The total outstanding amount is now C$3.2 billion ($3.05 billion).