Ontario School Boards Financing Corp. completes $493 million offering

Date Closed: 11/26/2004

Value: $493 million

On November 26, 2004, Ontario School Boards Financing Corp. (OSBFC) completed the offering of $493,173,000 2004-A1 pooled debentures ownership interests for an aggregate purchase price of $493,173,000. The ownership interests represent undivided co-ownership interests in $493,173,000 aggregate principal amount of 5.483 per cent fully amortizing debentures due November 26, 2029 purchased by OSBFC from 14 school boards in the Province of Ontario. The ownership interests have been assigned long-term credit ratings of AA (negative trend) by Dominion Bond Rating Service Ltd., Aa3 (stable) by Moody’s Investors Services Inc. and AA- (stable) by Standard & Poor’s Ratings Service.

The underwriters were represented by Heather Douglas and Adam Segal (securities) and Craig Webster (tax) of BLG.