By Cristal Cody
Prospect News, Dec. 1 - Terasen Gas Vancouver Island Inc. priced C$100 million 5.2% medium-term bonds due Dec. 6, 2040 at 99.714 to yield 5.219% on Wednesday, according to an informed source.
The bonds (DBRS: BBBH/A3//) were sold at a spread of 160 basis points over the Government of Canada benchmark bond, on top of price talk.
RBC Capital Markets Corp. was the bookrunner. Co-managers were BMO Nesbitt Burns Inc., CIBC World Markets Inc., National Bank Financial Inc., Scotia Capital Inc. and TD Securities Inc.
The Surrey, B.C.-based natural gas company is a subsidiary of gas and electric utility Fortis Inc.
| Issuer: | Terasen Gas Vancouver Island Inc.
|
| Amount: | C$100 million
|
| Maturity: | Dec. 6, 2040
|
| Securities: | Medium-term bonds
|
| Bookrunner: | RBC Capital Markets Corp.
|
| Co-managers: | BMO Nesbitt Burns Inc., CIBC World Markets Inc., National Bank Financial Inc., Scotia Capital Inc. and TD Securities Inc.
|
| Coupon: | 5.2%
|
| Price: | 99.714
|
| Yield: | 5.219%
|
| Spread: | 160 bps over Government of Canada benchmark
|
| Call feature: | 40 bps over Government of Canada benchmark
|
| Pricing date: | Dec. 1
|
| Settlement date: | Dec. 6
|
| Ratings: | DBRS: BBBH
|
| Moody's: A3
|
| Distribution: | Canada
|
| Price talk: | 160 bps over Canadian government benchmark
|
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