By Cristal Cody
Tupelo, Miss., April 2 – Hydro One Inc. priced C$1.5 billion of medium-term notes (Baa1/A-/DBRS: A) in three tranches on Tuesday, according to a news release.
Hydro One sold C$700 million of 2.54% series 42 notes due 2024, C$550 million of 3.02% series 43 notes due 2029 and C$250 million of 3.64% series 44 notes due 2050.
Proceeds from the deal will be used to repay short-term debt and for general corporate purposes.
Hydro One is a subsidiary of Toronto-based electricity transmission and distribution company Hydro One Ltd.
| Issuer: | Hydro One Inc.
|
| Amount: | C$1.5 billion
|
| Securities: | Medium-term notes
|
| Pricing date: | April 2
|
| Settlement date: | April 5
|
| Ratings: | Moody’s: Baa1
|
| S&P: A-
|
| DBRS: A
|
| Distribution: | Canada
|
|
|
| Five-year notes
|
| Amount: | C$700 million
|
| Maturity: | 2024
|
| Securities: | Series 42 medium-term notes
|
| Coupon: | 2.54%
|
|
|
| Ten-year notes
|
| Amount: | C$550 million
|
| Maturity: | 2029
|
| Securities: | Series 43 medium-term notes
|
| Coupon: | 3.02%
|
|
|
| Thirty-one-year notes
|
| Amount: | C$250 million
|
| Maturity: | 2050
|
| Securities: | Series 44 medium-term notes
|
| Coupon: | 3.64%
|
|
|
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