CALGARY, AB, Sept. 4, 2024 /CNW/ - (TSX: CIU.PR.A) (TSX: CIU.PR.C)
CU Inc. announced today that it will issue $410,000,000 of 4.664% Debentures maturing on September 11, 2054, at a price of $100.00 to yield 4.664%. This issue was sold by RBC Capital Markets, BMO Capital Markets, Scotiabank, TD Securities, CIBC Capital Markets, ATB Capital Markets and MUFG. Proceeds from the issue will be used to finance capital expenditures, to repay existing indebtedness and for other general corporate purposes.
CU Inc. is a wholly-owned subsidiary of Canadian Utilities Limited, an ATCO Company. CU Inc. is an Alberta-based corporation with approximately 3,700 employees and assets of $18 billion; comprised of rate regulated utility operations in pipelines, natural gas and electricity transmission and distribution. More information about CU Inc. can be found on the Canadian Utilities Limited website at www.canadianutilities.com.
Investor & Analyst Inquiries:
Colin Jackson
Senior Vice President, Financial Operations
[email protected]
403 808 2636
Media Inquiries:
Kurt Kadatz
Director, Corporate Communications
[email protected]
587 228 4571
Forward-Looking Information:
Certain statements contained in this news release may constitute forward-looking information. In particular, forward-looking information in this news release includes references to the issuance of $410,000,000 of 4.664% Debentures and the expected use of proceeds.
While it is believed that the expectations reflected in the forward-looking information are reasonable based on the information available on the date such statements are being made, such statements are not guarantees of future performance and no assurance can be given that these expectations will prove to be correct. Forward-looking information should not be unduly relied upon. By its nature, this information involves a variety of assumptions, known and unknown risks and uncertainties, and other factors, which may cause actual results, levels of activity, and achievements to differ materially from those anticipated in such forward-looking information. Forward-looking information in this news release reflects beliefs and assumptions with respect to, among other things: timing and needs of CU Inc.'s capital programs.
Actual results could differ materially from those anticipated in the forward-looking information as a result of, among other things: applicable laws, regulations and government policies; regulatory decisions; prevailing market and economic conditions; the availability and cost of labour, materials, services, and infrastructure; the development and execution of projects; prices of electricity, natural gas, natural gas liquids, and renewable energy; and other risk factors, many of which are beyond CU Inc.'s control. Readers are cautioned that the foregoing list is not exhaustive. For additional information about the principal risks that CU Inc. faces, see "Business Risks and Risk Management" in CU Inc.'s Management's Discussion and Analysis for the year ended December 31, 2023.
Forward-looking information contained in this news release represents expectations as of the date hereof, which may change after such date. There is no intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required by applicable securities legislation.
SOURCE CU Inc.
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