The dual tranche offering consisted of an aggregate principal amount of C$100 million 3-year notes with a coupon rate of 1.949%, maturing on July 8, 2022 and an aggregate principal amount of C$350 million 30-year notes with a coupon rate of 3.106%, maturing on July 8, 2049. Net proceeds will be used for general corporate purposes, including repayment of existing indebtedness and financing the Corporation's capital expenditure program and working capital requirements.
These debt securities are rated A (low) by DBRS Limited and A- by Standard and Poor's Ratings Services.
The offering was made in Canada under EPCOR's previously filed short form base shelf prospectus dated December 8, 2017. RBC Dominion Securities Inc. and National Bank Financial Inc. acted as co-leads and joint bookrunners for the syndicate of agents which included BMO Nesbitt Burns Inc., CIBC World Markets Inc., Scotia Capital Inc., TD Securities Inc., HSBC Securities (Canada) Inc., Merrill Lynch Canada Inc., MUFG Securities (Canada), Ltd. and Wells Fargo Securities Canada Ltd.
For more information, please contact:
About EPCOR Utilities Inc.
EPCOR, through its subsidiaries, builds, owns and operates electrical, natural gas and water transmission and distribution networks, water and wastewater treatment facilities, sanitary and stormwater systems, and infrastructure in Canada and the United States. The company also provides electricity, natural gas and water products and services to residential and commercial customers. EPCOR, headquartered in Edmonton, is an Alberta Top 70 employer.