Quebec prices A$900 million 10-year Kangaroo bond

Wednesday, 28 May 2025

Issuer name: Province of Quebec
Issuer rating: A+/Aa2/AA-
Pricing date: 28 May 2025
Settlement date: 4 June 2025
Lead managers: Deutsche Bank, RBC Capital Markets, TD Securities

Transaction type: senior-unsecured Kangaroo bond
Volume: A$900 million (US$580 million)
Maturity date: 4 June 2035
Coupon rate: 5.1%
Issue/re-offer price: 99.806%
Re-offer yield: 5.125%
Margin: 106bp/s-q swap, equivalent to 81.55bp/June 2035 ACGB