EPCOR Utilities Inc. completes C$250 million debt offering 2024

EPCOR Utilities Inc. (EPCOR) has completed private placement offering in Canada of senior unsecured notes in the aggregate principal amount of C$250 million (the Notes). The notes have a coupon rate of 4.99%, and mature on May 31, 2054. 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 Morningstar DBRS, A- by S&P Global Ratings and A by Fitch Ratings.

The offering was made in Canada on a private placement basis and the Notes will be issued under EPCOR's trust indenture dated as of June 28, 1999 between EPCOR and the Trust Company of Bank of Montreal, now succeeded by BNY Trust Company of Canada, as trustee. RBC Dominion Securities Inc. and Scotia Capital Inc. acted as co-leads and joint bookrunners for the syndicate of agents which included TD Securities Inc., BMO Nesbitt Burns Inc., CIBC World Markets Inc., National Bank Financial Inc., MUFG Securities (Canada), Ltd. and Merrill Lynch Canada Inc. The Notes have not been, and will not be, registered under the United States Securities Act of 1933, as amended, or any state securities laws, and may not be offered or sold within the United States and this news release is not, and under no circumstances is to be construed as, an offering or solicitation in respect of purchases or sales of the Notes in the United States. Resale of the Notes will be subject to restrictions under applicable securities legislation which vary depending on the relevant jurisdictions.

For more information, contact:

Media Relations:   
Laura Ehrkamp
Phone: 780-721-9001
Email: epcormedia@epcor.com

Corporate Relations:
Matt Lemay
Phone: 780-412-371
Toll Free: 1-877-969-8280
Email: mlemay@epcor.com

Caution Concerning Forward-Looking Statements

Certain statements made in this news release are forward-looking statements, including statements relating to the intended use of the net proceeds of the offering of the Notes. Forward-looking statements, by their very nature, are subject to inherent risks and uncertainties and are based on several assumptions, both general and specific, which give rise to the possibility that actual results or events could differ materially from our expectations expressed in or implied by such forward-looking statements. As a result, we cannot guarantee that any forward-looking statement will materialize and we caution you against relying on any of these forward-looking statements. The forward-looking statements contained in this news release describe our expectations at the date of this news release and, accordingly, are subject to change after such date. Except as may be required by Canadian securities laws, we do not undertake any obligation to update or revise any forward-looking statements contained in this news release, whether as a result of new information, future events or otherwise. Forward-looking statements are provided herein for the purpose of giving information about the proposed offering referred to above. Readers are cautioned that such information may not be appropriate for other purposes.