Ontario sells C$1.2 bln notes in reopening - term sheet

Tue Dec 3, 2013 10:08am EST
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Dec 3 (Reuters) - The Canadian province of Ontario on Tuesday sold C$1.2 billion ($1.1 billion) of notes in a reopening of an existing issue due June 2, 2020, according to a term sheet seen by Reuters.

The 4.20 percent notes were priced at 109.004 to yield 2.679 percent, or 62 basis points over the Canadian government benchmark, according to the term sheet.

The sale consisted of C$450 million ($421 billion) in a public sale, and C$750 million ($701 million) in a private placement, with the same terms for both portions.

The total amount now outstanding is C$9.55 billion.

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