By Cristal Cody
Tupelo, Miss., May 10 - Hydro Ottawa Holding Inc. sold C$150 million in a private placement offering of 3.991% 30-year bonds at par, according to a source near the deal.
The senior notes due May 14, 2043 (/A/DBRS: A) priced at a spread of 152 basis points over the Government of Canada benchmark.
Scotia Capital Inc. and BMO Capital Markets Corp. were the lead managers of the offering, which had more than 30 buyers.
The energy holding company is owned by the City of Ottawa.
| Issuer: | Hydro Ottawa Holding Inc.
|
| Amount: | C$150 million
|
| Maturity: | May 14, 2043
|
| Securities: | Senior notes
|
| Bookrunners: | Scotia Capital Inc. and BMO Capital Markets Corp.
|
| Coupon: | 3.991%
|
| Price: | Par
|
| Yield: | 3.991%
|
| Spread: | 152 bps over Government of Canada benchmark
|
| Pricing date: | May 9
|
| Settlement date: | May 14
|
| Ratings: Standard & Poor's: A
|
| DBRS: A
|
| Distribution: | Canada private placement
|
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