Prospect News, Nov. 15 - EnerCare Inc. priced a C$250 million offering of five-year 4.3% senior notes at 99.918 to yield 4.318%.
The deal had been talked at a spread in the 298 basis points area late Thursday afternoon, an informed source said. The pricing spread was not immediately available.
TD Securities Inc. and National Bank Financial Inc. were lead managers for the best-efforts sale.
Proceeds will be used to redeem the company's C$240 million outstanding 5.25% series 2010-1 senior notes due March 15, 2013 and for general corporate purposes.
EnerCare is a Toronto-based energy conservation products and services provider.
| Issuer: | EnerCare Inc.
|
| Issue: | Series 2012-1 senior notes
|
| Amount: | C$250 million
|
| Maturity: | Nov. 30, 2017
|
| Coupon: | 4.30%
|
| Price: | 99.918
|
| Yield: | 4.318%
|
| Managers: | TD Securities Inc. and National Bank Financial Inc. (joint leads), RBC Dominion Securities Inc. and CIBC World Markets Inc.
|
| Pricing date: | Nov. 15
|
| Settlement date: | Nov. 21
|
| Distribution: | Best-efforts via short-form base shelf prospectus
|
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