Honda Canada Finance sells C$550 mln of notes - term sheet
Aug 27 (Reuters) - Honda Canada Finance Inc on Tuesday sold C$550 million ($524 million) of floating-rate notes in two parts, according to a term sheet seen by Reuters.
The sale was a private placement.
The issue included C$300 million ($286 million) of floating-rate notes due Dec. 3, 2015. The notes, which were priced at par, have a coupon rate of 42 basis points over the three-month Canadian Dealer Offered rate or CDOR.
Honda Canada Finance also sold C$250 million ($238 million)floating-rate notes due Dec. 3, 2018, which were priced at par with coupon rate of 65 basis points over the three-month CDOR.
The investment dealer arms of Canadian Imperial Bank of Commerce, and Royal Bank of Canada were the lead managers of the sale.
© Thomson Reuters 2016 All rights reserved.