Ontario sells C$1 bln 5-year notes in reopening

Tue Aug 27, 2013 10:39am EDT
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Aug 27 (Reuters) - The Canadian province of Ontario on Tuesday sold C$1 billion ($952 million) of five-year notes in a reopening of an existing issue, according to a term sheet seen by Reuters.

The deal consist of two parts, a C$400 million ($381 million) in sale to the public, and C$600 million ($571 million) in a private placement. The terms of the sale apply to both parts.

The 2.10 percent notes, due Sept. 8, 2018, were priced at 98.057 to yield 2.514 percent or 62 basis points over the Canadian government benchmark.

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

The total issue amount outstanding it now C$4.5 billion ($4.29 billion).