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Canadian bonds: Hydro-Quebec selling C$500 million 5% debentures
By Cristal Cody
Tupelo, Miss., Aug. 23 - Hydro-Quebec announced on Monday that it is selling in the Canadian domestic market a C$500 million add-on to its 5% series JN debentures.
The debentures, which mature Feb. 15, 2050, are payable semiannually and will be offered on the market at a price of 109.527 plus accrued interest from Aug. 15 to yield 4.483%.
The lead manager for the deal is National Bank Financial Inc. with BMO Nesbitt Burns Inc. and CIBC World Markets Inc. acting as co-lead managers.
This is the fifth additional tranche of series JN debentures, which were issued initially on Jan. 15, 2009. The series has a total of C$3 billion outstanding.
Hydro-Quebec is a government-owned corporation, which generates, transmits and distributes electricity in Quebec.
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