New Issue: Epcor Utilities prices C$200 million 3.949% 30-year notes at par

By Cristal Cody

Tupelo, Miss., Nov. 14 – Epcor Utilities Inc. priced C$200 million of 30-year medium-term notes (/A-/DBRS: A) at par to yield 3.949% on Tuesday, according to a final term sheet.

RBC Dominion Securities Inc. and BMO Nesbitt Burns Inc. were the bookrunners.

Proceeds will be used to repay existing debt and for other corporate purposes.

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$200 million
Description:	Medium-term notes
Maturity:	Nov. 26, 2048
Bookrunners:	RBC Dominion Securities Inc. and BMO Nesbitt Burns Inc.
Co-managers:	TD Securities Inc., CIBC World Markets Inc., Scotia Capital Inc., National Bank Financial Inc., HSBC Securities (Canada) Inc. Merrill Lynch Canada Inc., MUFG Securities (Canada), Ltd. and Wells Fargo Securities Canada Ltd.
Coupon:	3.949%
Price:	Par
Yield:	3.949%
Spread:	126.1 bps over Government of Canada benchmark
Call features:	Make-whole call before May 26, 2048 at greater of Government of Canada bond yield plus 36 bps; thereafter at par
Trade date:	Nov. 13
Settlement date:	Nov. 26
Ratings:	S&P: A-
	DBRS: A
Distribution:	Canada

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