Ontario sells C$1 bln debt in reopening - term sheet

April 2 Tue Apr 2, 2013 11:02am EDT

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April 2 (Reuters) - The Canadian province of Ontario on Tuesday sold C$1 billion ($980 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 99.443 to yield 3.53 percent or 102 basis points over the Canadian government benchmark.

The debt was issued in two parts, C$250 million ($245 million) in a public sale, and C$750 million ($735 million) in a private placement. Both parts have the same pricing details.

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

The total amount outstanding is now C$10.6 billion ($10.39 million)

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