Québec completed an SEC-registered global notes offering consisting of $4.5 billion of 3.875% notes due 2031.
The net proceeds of the issuance will be added to the Consolidated Revenue Fund of Québec or advanced to the Financing Fund of Québec. The notes were listed on the Euro MTF Market of the Luxembourg Stock Exchange.
S&C acted as U.S. counsel to the joint lead managers and bookrunners, including CIBC World Markets, HSBC Bank, J.P. Morgan Securities, National Bank of Canada Financial and RBC Capital Markets.
The S&C team included Cathy Clarkin, Cameron Teschuk, Kethan Dahlberg and John Day. Jeff Hochberg and Andrew Motten advised on tax matters.