By Cristal Cody
Prospect News, Jan. 28 - EnerCare Solutions Inc. sold C$225 million of 4.6% seven-year senior notes at 99.94 to yield 4.61% on Monday, an informed source said.
The series 2013-1 notes (/A-/DBRS: BBB) priced at a spread of 285 basis points over the Canada bond curve.
TD Securities Inc. and National Bank Financial Inc. were the lead managers. Co-managers were RBC Dominion Securities Inc. and CIBC World Markets Inc.
EnerCare Solutions is owned by EnerCare Inc., a Toronto-based energy conservation products and services provider.
| Issuer: | EnerCare Solutions Inc.
|
| Amount: | C$225 million
|
| Maturity: | Feb. 3, 2020
|
| Securities: | Senior notes
|
| Bookrunners: | TD Securities Inc. and National Bank Financial Inc.
|
| Co-managers: | RBC Dominion Securities Inc. and CIBC World Markets Inc.
|
| Coupon: | 4.6%
|
| Price: | 99.94
|
| Yield: | 4.61%
|
| Spread: | 285 bps over Canada bond curve
|
| Call feature: | 71 bps plus Canada bond yield
|
| Pricing date: | Jan. 28
|
| Settlement date: | Feb. 1
|
| Ratings: | Standard & Poor's: A-
|
| DBRS: BBB
|
| Distribution: | Canada
|
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