Ontario sells C$650 mln in a reopening - term sheet

Mon Nov 25, 2013 11:11am EST

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Nov 25 (Reuters) - The Canadian province of Ontario on Monday sold C$650 million ($613 million) in a reopening of an existing issue, according to a term sheet seen by Reuters.

The 3.45 percent debt due June 2, 2045, was priced at 87.947 to yield 4.138 percent or 100 basis points over the Canadian government benchmark.

The sale consisted of C$250 million ($236 million) in a public sale, and C$400 million ($377 million) in a private placement. The terms of sale were the same for both portions.

The total issue amount is now C$5.6 billion ($5.28 billion).

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

A couple walks along the rough surf during sunset at Oahu's North Shore, December 26, 2013. REUTERS/Kevin Lamarque

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