New York Life Raises C$1.1 Billion in Maple Bond Sale

New York Life Global Funding sold C$1.1 billion ($810 million) of Canadian-dollar debt maturing in seven years, according to people familiar with the matter.

The deal, confirming an earlier Bloomberg report, is paying a yield of 0.83 percentage point more than government debt and has a coupon of 4.2%. It drew 40 buyers, who put in orders equal to about 1.7 times the bonds that were for sale, according to the people, who asked not to be identified as they aren’t authorized to speak publicly.