New Issue: Hydro One prices C$350 million of 4.17% 30-year notes at 135 bps spread

By Cristal Cody

Prospect News, June 3 - Hydro One Inc. (A1/A+/DBRS: A) priced C$350 million of 4.17% medium-term notes due June 6, 2044 at 99.898 to yield a spread of 135 basis points over the Government of Canada benchmark on Tuesday, according to an informed source.

The deal was upsized from a minimum amount of C$250 million.

Scotia Capital Inc. and TD Securities Inc. were the lead managers.

Proceeds will be used for general corporate purposes.

Hydro One is a Toronto-based electric utility.

Issuer:	Hydro One Inc.
Amount:	C$350 million
Maturity:	June 6, 2044
Securities:	Medium-term notes
Bookrunners:	Scotia Capital Inc. and TD Securities Inc.
Co-managers:	BMO Nesbitt Burns Inc., CIBC World Markets Inc., National Bank Financial Inc., RBC Dominion Securities Inc., Desjardins Securities Inc., HSBC Capital (Canada) Inc., Casgrain & Co. Ltd. and Laurentian Bank Securities, Inc.
Coupon:	4.17%
Price:	99.898
Spread:	135 bps over Government of Canada benchmark
Pricing date:	June 3
Settlement date:	June 6
Ratings:	Moody's: A1
	Standard & Poor's: A+
	DBRS: A
Distribution:	Canada

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