Québec Issues €1.5B of Medium Term Notes

On April 29, 2009, the Province of Québec issued €1,500,000,000 5 per cent notes due April 29, 2019 under its US$18,000,000,000 Euro Medium Term Note Programme. The notes were listed on the Regulated Markets of the London Stock Exchange. The notes were offered by an underwriting syndicate joint-led by J.P. Morgan Securities Ltd., Merrill Lynch International, Société Générale and The Royal Bank of Scotland plc., and includes Citigroup Global Markets Limited, Deutsche Bank Aktiengesellschaft, HSBC France, ING Belgium SA/NV, WestLB AG, Banca IMI S.p.A., Bayerische Landesbank, BNP Paribas, Mitsubishi UFJ Securities International plc and National Bank Financial Inc.

The dealers were represented by Ogilvy Renault LLP with a team including Susan Mann and Peter Noble (London) and Jules Charette (tax) in Montréal.