OTFT exceeds expectations with dollar dual tranche

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By Burhan Khadbai, Lewis McLellan
24 Sep 2020

Ontario Teachers’ Finance Trust made a convincing statement as it hit the dollar bond market on Thursday with new three and 10 year notes that were tightly priced and had record order books.

OTFT’s leads, Barclays, JP Morgan, RBC Capital Markets and TD Securities, began taking indications of interest on Wednesday at initial price thoughts of 28bp area and 65bp area over mid-swaps for the 144A/Reg S benchmark bonds.

It had a target size of at least $500m ...

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