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PSP Capital Inc sells C$500 mln 7-year notes - term sheet

Oct 17 (Reuters) - PSP Capital Inc on Thursday sold C$500 million ($485 million) of seven-year notes due Oct. 22, 2020, according to a term sheet seen by Reuters.

The 3.03 percent notes were priced at 99.962 to yield 3.036 percent, or 88.5 basis points over the Canadian government benchmark, according to the term sheet.

The joint lead managers on the sale were the investment dealer arms of Toronto-Dominion Bank and Royal Bank of Canada.