Hydro One Inc. Prices Canadian Offering of $1.4 Billion Medium Term Notes
Hydro One Inc. Prices Canadian Offering of $1.4 Billion Medium Term Notes |
[21-June-2018] |
Net proceeds to repay short term debt and for general corporate purposes TORONTO, June 21, 2018 /PRNewswire/ - Hydro One Limited ("Hydro One"), Ontario's largest electricity transmission and distribution company, today announced that its wholly-owned subsidiary, Hydro One Inc. has priced an offering of C$1.4 billion of Medium Term Notes (the "Notes") consisting of C$300 million aggregate principal amount of 2.57% Medium Term Notes, Series 39, due 2021, C$350 million aggregate principal amount of 2.97% Medium Term Notes, Series 40, due 2025, and C$750 million aggregate principal amount of 3.63% Medium Term Notes, Series 41, due 2049. The net proceeds from the issuance of the Notes will be approximately $1.394 billion. Hydro One Inc. expects to use the net proceeds of this offering to repay short term debt and for general corporate purposes. The offering of the Notes is expected to close on June 26, 2018. The Notes are being offered on a best efforts basis in each of the provinces of Canada through a syndicate of agents. The Notes are being offered pursuant to a short form base shelf prospectus of Hydro One Inc. dated March 8, 2018. Hydro One Inc. will be filing pricing supplements to the base shelf prospectus relating to the offering of each series of Notes with the securities regulatory authorities in each of the provinces of Canada. Copies of the pricing supplements and accompanying base shelf prospectus may be obtained over the Internet under Hydro One lnc.'s profile at the Canadian Securities Administrators' website at www.sedar.com. This news release does not constitute an offer to sell or the solicitation of an offer to buy any securities in any jurisdiction. The Notes have not been approved or disapproved by any regulatory authority nor has any such authority passed upon the accuracy or adequacy of the short form base shelf prospectus or the pricing supplements. This news release is not an offer for sale within the United States of any debt or other securities of Hydro One Limited or Hydro One Inc. Securities of Hydro One Limited or Hydro One Inc., including any offering of its debt securities, may not be offered or sold in the United States absent registration under U.S. securities laws or unless exempt from registration under such laws. The Canadian offering described in this news release is not being made in the United States and has not been and will not be registered under U.S. securities laws, and accordingly, the Notes may not be offered or delivered, directly or indirectly, or sold in the United States except in certain transactions exempt from the registration requirements under applicable U.S. securities laws. About Hydro One: Caution Concerning Forward Looking Information, Risks and Assumptions: View original content:http://www.prnewswire.com/news-releases/hydro-one-inc-prices-canadian-offering-of-1-4-billion-medium-term-notes-300670613.html SOURCE Hydro One Limited | ||
Company Codes: Toronto:H |
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