Chicago, Jan. 10 – Liberty Utilities Co., the regulated distribution utility holding company of Algonquin Power & Utilities Corp., priced $850 million of notes in two parts (//BBB+) on Tuesday, according to a press release.
The company priced $500 million of 5.577% five-year notes at 99.996.
Additionally, the deal includes $350 million of 5.869% 10-year notes, priced at 99.995.
Proceeds will be used to repay debt and/or for other general corporate purposes.
Algonquin Power is an Oakville, Ont.-based diversified utilities company. Algonquin will not guarantee the notes.
| Issuer: | Liberty Utilities Co.
|
| Amount: | $850 million
|
| Issue: | Senior notes
|
| Trade date: | Jan. 9
|
| Settlement date: | Jan. 12
|
| Rating: | Fitch: BBB+
|
| Distribution: | Rule 144A and Regulation S
|
|
|
| Five-year notes
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| Amount: | $500 million
|
| Maturity: | Jan. 31, 2029
|
| Coupon: | 5.577%
|
| Price: | 99.996
|
|
|
| 10-year notes
|
| Amount: | $350 million
|
| Maturity: | Jan. 31, 2034
|
| Coupon: | 5.869%
|
| Price: | 99.995
|
|
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