February 12, 2020 / 7:33 PM / in 6 months

Canada's Ontario province prices C$500 million green bond: joint leads

TORONTO (Reuters) - Ontario, one of the world’s largest sub-sovereign debtors, priced on Wednesday a C$500 million 7-year green bond, a document prepared by the joint lead managers showed.

The 1.85% bond, which matures on Feb. 1, 2027, was issued at a spread of 49.5 basis points above the 1.50%, June 1, 2026, Canadian government bond, the document seen by Reuters showed.

The deal was the seventh green bond offering from the province, which is the largest issuer in the Canadian dollar green bond market, according to the document.

Ontario government officials were not available for an immediate comment.

Reporting by Fergal Smith; Editing by Chizu Nomiyama

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