EPCOR Utilities Inc. completes C$500 million debt offering

EPCOR Utilities Inc. (EPCOR) has completed a public offering in Canada of unsecured medium term note debentures in the aggregate principal amount of C$500 million.

The three-tranche offering consisted of an aggregate principal amount of C$100 million 3-year notes with a coupon rate of 0.982%, maturing on June 28, 2024, an aggregate principal amount of C$200 million 10-year notes with a coupon rate of 2.411%, maturing on June 30, 2031 and an aggregate principal amount of C$200 million 30-year notes with a coupon rate of 3.287%, maturing on June 28, 2051. 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) (stable) by DBRS Limited and A- (stable) by S&P Global Ratings.

The offering was made in Canada under EPCOR’s previously filed short form base shelf prospectus dated December 9, 2019. TD Securities Inc. and CIBC World Markets Inc. acted as co-leads and joint bookrunners for the syndicate of agents which included RBC Dominion Securities Inc., BMO Nesbitt Burns Inc., National Bank Financial Inc., Scotia Capital Inc., MUFG Securities (Canada), Ltd., Merrill Lynch Canada Inc. and Wells Fargo Securities Canada Ltd.

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