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Another busy day in the bond market is winding down, with Bank of Nova Scotia completing a $1-billion offering and the province of Quebec raising $500-million.

Bank of Nova Scotia sold seven-years bonds at 102 basis point premium to the comparable government of Canada debt. Contrary to what was written in this space earlier, the new bonds were priced at a slight discount to where similar notes are trading: a 4 basis point concession, according to one financier who looked at the deal.

Scotia Capital led the financing.

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Quebec re-opened a medium term note program to sell bonds that pay 4.5 per cent interest and mature in 2020.

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Business Columnist

Andrew Willis is a business columnist for the Report on Business at The Globe and Mail, based in Toronto.He has been in business communications and journalism for three decades. More

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