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Ontario on as Greece knocked out

Greece and its on-again, off-again bail-out plans have sent its most recent Eu5bn seven year deal to widen by 90bp this week and the whole Greek curve is out — by some 40bp in 10 years and 140bp in twos. Amid the carnage, a 10 year global from Province of Ontario is the only post-Easter primary issue in the sovereign, supranational and agency sector so far this week. The book is around $2bn at guidance of mid-swaps plus low 50bps, say lead managers Bank of America Merrill Lynch, Deutsche Bank, JPMorgan and RBC, and the deal will price this afternoon. Read EuroWeek on Friday for Ontario coverage and further news and views on the Greek saga.

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