By Lisa Kerner
Charlotte, N.C., April 29 - Enersource Corp. completed a private placement of C$320 million of 10-year and 30-year senior debentures.
The company sold C$110 million of series A 10-year debentures with a fixed rate of 4.521% and C$210 million of series B 30-year debentures with a fixed rate of 5.297%.
Proceeds will be used to repay Enersource's existing long-term debt and for general corporate purposes, a company news release said.
CIBC World Markets Inc. was the lead manager, and Scotia Capital Inc. was the co-lead manager.
Co-managers were BMO Capital Markets Corp., RBC Capital Markets LLC and TD Securities Inc.
Enersource, an electric utility, is 90% owned by the City of Mississauga, Ont., and 10% by BPC Energy Corp., which is part of the Ontario Municipal Employees Retirement System.
| Issuer: | Enersource Corp.
|
| Amount: | C$320 million
|
| Securities: | Debentures
|
| Lead managers: | CIBC World Markets Inc., Scotia Capital Inc.
|
| Co-managers: | BMO Capital Markets Corp., RBC Capital Markets LLC, TD Securities Inc.
|
| Pricing date: | April 20
|
| Settlement date: | April 29
|
| Distribution: | Canada
|
|
|
| 10-year debentures
|
| Amount: | C$110 million
|
| Maturity: | April 29, 2021
|
| Coupon: | 4.521%
|
|
|
| 30-year debentures
|
| Amount: | C$210 million
|
| Maturity: | April 29, 2041
|
| Coupon: | 5.297%
|
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