By Lisa Kerner
Charlotte, N.C., Dec. 15 - Epcor Utilities Inc. closed a $250 million private placement of 10- and 30-year senior notes, according to a company news release.
Epcor issued the notes as follows:
• $138 million of 3.74% senior notes that mature December 2021; and
• $112 million of 5% senior notes that mature December 2041.
HSBC Securities (USA) Inc. and TD Securities (USA) LLC jointly led the private placement.
Proceeds will be used to partially fund Epcor Water (USA) Inc.'s acquisition of Arizona-American Water Co. and New-Mexico American Water Co., Inc., wholly owned subsidiaries of American Water Works Co., and also for general corporate purposes.
Epcor is an Edmonton, Alta.-based utility company.
| Issuer: | Epcor Utilities Inc.
|
| Issue: | Senior notes
|
| Total amount: | $250 million
|
| Distribution: | Private placement
|
|
|
| 10-year notes
|
| Amount: | $138 million
|
| Maturity: | December 2021
|
| Coupon: | 3.74%
|
|
|
| 30-year notes
|
| Amount: | $112 million
|
| Maturity: | December 2041
|
| Coupon: | 5%
|
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