By Cristal Cody
Prospect News, July 17 - Horizon Holdings Inc. (/A/) sold C$150 million of 3.033% senior debentures at par in a private placement in Canada on Tuesday, an informed bond source said.
The series B debentures due July 25, 2022 priced at a spread of 137 basis points over the Government of Canada benchmark.
CIBC World Markets Inc. was the bookrunner. Co-managers were BMO Capital Markets Corp. and Scotia Capital Inc.
The debentures may be redeemed at the Canada Bond Yield plus 34 bps.
Horizon Holdings is an investment holding company that provides electric utility distribution and energy services and is owned by Hamilton, Ont.-based Hamilton Utilities Corp.
| Issuer: | Horizon Holdings Inc.
|
| Amount: | C$150 million
|
| Maturity: | July 25, 2022
|
| Securities: | Senior debentures
|
| Bookrunner: | CIBC World Markets Inc.
|
| Co-managers: | BMO Capital Markets Corp., Scotia Capital Inc.
|
| Coupon: | 3.033%
|
| Price: | Par
|
| Yield: | 3.033%
|
| Spread: | 137 bps over Government of Canada benchmark
|
| Call feature: | Canada Bond Yield plus 34 bps
|
| Pricing date: | July 17
|
| Settlement date: | July 25
|
| Rating: | Standard & Poor's: A
|
| Distribution: | Canada private placement
|
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