New Brunswick sells C$300 mln of debt in reopening - term sheet

Fri May 3, 2013 11:31am EDT

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May 3 (Reuters) - The Canadian province of New Brunswick on Friday sold C$300 million ($297 million) of bonds in a reopening of an existing issue, according to a term sheet seen by Reuters.

The 3.55 percent bonds, due June 3, 2043, were priced at 99.851 to yield 3.558 percent or 114 basis points over the Canadian government benchmark.

The issue amount now outstanding is C$600 million ($594 million).

The investment dealer arm of Royal Bank of Canada was the lead manager of the sale.

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