By Wendy Van Sickle
Columbus, Ohio, Feb. 15 – EnerCare Solutions Inc. sold C$500 million of five- and seven-year senior unsecured notes, according to a press release.
The notes include C$275 million of 3.38% series 2017-1 senior unsecured notes due Feb. 21, 2022 priced at 99.982 to yield 3.384% and C$225 million of 3.99% series 2017-2 senior unsecured notes due Feb. 21, 2024 priced at 99.982 to yield 3.993%.
TD Securities Inc. and National Bank Financial Inc. were the lead managers. Co-managers were MO Nesbitt Burns Inc., RBC Dominion Securities Inc., Scotia Capital Inc., Desjardins Securities Inc. and Laurentian Bank Securities Inc.
Proceeds will be used to redeem the company’s C$250 million 4.3% senior unsecured notes due Nov. 30, 2017, to repay existing credit facilities and for general corporate purposes.
EnerCare Solutions is owned by EnerCare Inc., a Toronto-based energy conservation products and services provider.
| Issuer: | EnerCare Solutions Inc.
|
| Amount: | C$500 million
|
| Securities: | Senior notes
|
| Bookrunners: | TD Securities Inc. and National Bank Financial Inc.
|
| Co-managers: | MO Nesbitt Burns Inc., RBC Dominion Securities Inc., Scotia Capital Inc., Desjardins Securities Inc. and Laurentian Bank Securities Inc.
|
| Pricing date: | Feb. 15
|
| Settlement date: | Feb. 21
|
| Distribution: | Canada
|
|
|
| Series 2017-1
|
| Amount: | C$275 million
|
| Maturity: | Feb. 21, 2022
|
| Coupon: | 3.38%
|
| Price: | 99.982
|
| Yield: | 3.384%
|
|
|
| Series 2017-2
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| Amount: | C$225 million
|
| Maturity: | Feb. 21, 2024
|
| Coupon: | 3.99%
|
| Price: | 99.982
|
| Yield: | 3.993%
|
|
|
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