November 16, 2017 / 5:17 PM / a month ago

Canada sells C$500 mln of ultra-long bonds at 2.251 pct yield

TORONTO, Nov 15 (Reuters) - Canada sold C$500 million of its ultra-long bonds at a 2.251 percent allotment yield, the Bank of Canada said after an auction on Thursday.

The yield was 4 basis points below where the yield on Canada’s 30-year benchmark was trading just before the auction. There were C$1.3637 billion of bids, lifting the bid-to-cover ratio to 2.73 from 2.72 at the last reopening of the bonds in August.

After Thursday’s auction, C$4.75 billion has been issued of the 2.75 percent bonds, which mature on Dec. 1, 2064. They were first sold in April 2014. (Reporting by Fergal Smith)

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