By Wendy Van Sickle
Columbus, Ohio, June 28 – Epcor Utilities Inc. closed Monday on a new C$500 million three-part offering of medium-term notes (A-//DBRS: A), according to a news release.
A C$100 million tranche of three-year notes priced with a coupon of 0.982%.
Epcor Utility sold C$200 million of 10-year 2.411% notes.
The company sold C$200 million of 3.287% 30-year notes.
TD Securities Inc. and CIBC World Markets Inc. were the bookrunners.
Proceeds will be used for general corporate purposes, including to repay existing debt, to finance the company’s capital expenditure program and for working capital requirements.
Epcor Utilities is an Edmonton, Alta.-based company that owns and operates electric, natural gas and water transmission and distribution networks, water and wastewater treatment facilities and sanitary and storm water systems in Canada and the United States.
| Issuer: | Epcor Utilities Inc.
|
| Amount: | C$500 million
|
| Description: | Medium-term notes
|
| Bookrunners: | TD Securities Inc. and CIBC World Markets Inc.
|
| Co-managers: | RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc., Scotia Capital Inc., MUFG Securities (Canada), Ltd., Merrill Lynch Canada Inc. and Wells Fargo Securities Canada Ltd.
|
| Settlement date: | June 28
|
| Ratings: | S&P: A-
|
| DBRS: A
|
| Distribution: | Canada
|
|
|
| Three-year notes
|
| Amount: | C$100 million
|
| Maturity: | June 28, 2024
|
| Coupon: | 0.982%
|
|
|
| 10-year notes
|
| Amount: | C$200 million
|
| Maturity: | June 30, 2031
|
| Coupon: | 2.411%
|
|
|
| 30-year notes
|
| Amount: | C$200 million
|
| Maturity: | June 28, 2051
|
| Coupon: | 3.287%
|
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