April 4, 2013 / 3:23 PM / 6 years ago

Ontario sells C$600 million of debt in reopening: term sheet

(Reuters) - The Canadian province of Ontario on Thursday sold C$600 million ($594 million) of debt in a reopening of an existing issue, according to a term sheet seen by Reuters.

The 3.50 percent debt due June 2, 2043, was priced at 100.648 to yield 3.465 percent or 103 basis points over the Canadian government benchmark.

The debt was issued in two parts, C$200 million ($198 million) in a public sale, and C$400 million ($396 million) in a private placement. Both parts have the same pricing details.

The investment dealer arm of Toronto-Dominion Bank of Commerce was the lead manager of the sale.

On Tuesday, Ontario sold C$1 billion ($990 million) in a combined public sale and private placement reopening of the same issue.

The total amount outstanding is now C$11.2 billion ($11.09 million)

New York Ratings Team; Editing by Chizu Nomiyama

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