By Cristal Cody
Prospect News, Sept. 11 - National Grid Electricity Transmission plc priced C$750 million of 2.73% five-year maple bonds on Tuesday at par in a private placement, a bond source said.
The notes (A3/A-/A) priced at a spread of 132 basis points over the Government of Canada benchmark.
RBC Capital Markets Corp. and TD Securities Inc. were the lead managers.
National Grid is an international electricity and gas company that owns and maintains the electricity transmission system in England and Wales.
| Issuer: | National Grid Electricity Transmission plc
|
| Amount: | C$750 million
|
| Maturity: | Sept. 20, 2017
|
| Securities: | Maple bonds
|
| Bookrunners: | RBC Capital Markets Corp., TD Securities Inc.
|
| Co-managers: | CIBC World Markets Inc., HSBC Capital (Canada) Inc.
|
| Coupon: | 2.73%
|
| Price: | Par
|
| Yield: | 2.73%
|
| Spread: | 132 bps over Government of Canada benchmark
|
| Call feature: | Non-callable
|
| Pricing date: | Sept. 11
|
| Settlement date: | Sept. 20
|
| Ratings: | Moody's: A3
|
| Standard & Poor's: A-
|
| Fitch: A
|
| Distribution: | Canada
|
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