Commentary & Deal Flow

Launched: 6yr: £1bn @ SONIA MS+51bp - Books in excess of £2.5bn (incl. £200m JLM)
Spread set at: 6yr: SONIA MS+51bp - Books in excess of £1.9bn (incl. £200m JLM)
IPTs: 6yr: SONIA MS+54bp area

• Issuer: Province of British Columbia (Ticker: BRCOL)
• Issuer Ratings: Aa2/AA/AA-/A (Moody's/DBRS/Fitch/S&P)
• Format: Reg S, Bearer Notes, NGN
• Size: £1bn
• Maturity Date: 09-Jun-32 (6 years)
• Settlement: 09-Jun-26 (T+5)
• Coupon: Fixed, payable annually
• ISIN: XS3402723400
• Reference Gilt: Indicatively UKT 4.250% 09-Jun-32 + 26.6bps
• Denominations: £100,000 + £1,000
• Bookrunners: Barclays/HSBC/Scotiabank (B&D)
• Listing: Luxembourg (Euro MTF Market)
• Docs: Issuer’s Euro Debt Issuance Programme
• Governing Law: Province of British Columbia/Canada
• Day Count: ACT/ACT
• Timing: Books closed. Pricing to follow.
• Advertisement: This communication is an advertisement for the purposes of Regulation (EU) 2017/1129 and underlying legislation. It is not a prospectus. The Final Prospectus, when published, will be available at https://www.luxse.com/issuer/BritishColumbia/27848
• Target Market: Manufacturer target market (MiFID II/UK MiFIR product governance) is eligible counterparties and professionals only (all distribution channels)