By Cristal Cody
Prospect News, Feb. 23 - Epcor Utilities Inc. (/BBB+/DBRS: A) priced an upsized C$300 million of 4.55% 30-year senior debentures at 99.756 to yield 4.565% on Thursday, a bond source said.
The debentures due Feb. 28, 2042 priced at a spread of 190 basis points over the Canadian government benchmark, tighter than talk of 195 bps.
The deal was upsized from C$200 million.
BMO Capital Markets Corp. and RBC Capital Markets Corp. were the bookrunners.
Epcor is an Edmonton, Alta.-based utility company.
| Issuer: | Epcor Utilities Inc.
|
| Amount: | C$300 million
|
| Maturity: | Feb. 28, 2042
|
| Securities: | Senior debentures
|
| Bookrunners: | BMO Capital Markets Corp., RBC Capital Markets Corp.
|
| Coupon: | 4.55%
|
| Price: | 99.756
|
| Yield: | 4.565%
|
| Spread: | 190 bps over Canadian government benchmark
|
| Pricing date: | Feb. 23
|
| Settlement date: | Feb. 28
|
| Ratings: | Standard & Poor's: BBB+
|
| DBRS: A
|
| Distribution: | Canada
|
| Price talk: | 195 bps
|
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