EDMONTON, AB, Dec. 5, 2024 /CNW/ - EPCOR Utilities Inc. (EPCOR) has completed a private placement offering in Canada of senior unsecured notes in the aggregate principal amount of C$200 million (the Notes). The Notes, which were issued pursuant to a re-opening of existing private placement notes maturing May 31, 2054 with a coupon rate of 4.99%, will be issued at a price of $110.240 per $100 principal amount, plus accrued and unpaid interest, to yield 4.364%. 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 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 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.
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.
About EPCOR Utilities Inc.
EPCOR, through its wholly owned 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. EPCOR also provides electricity, natural gas and water products and services to residential and commercial customers. EPCOR, headquartered in Edmonton, is committed to conducting its business and operations safely and responsibly. Environmental stewardship, public health and community well-being are at the heart of EPCOR's mission to provide clean water and safe, reliable energy. EPCOR is an Alberta Top 80 employer, is ranked among Corporate Knights' 2024 Best 50 Corporate Citizens in Canada, and is designated a Utility of the Future Today by the Water Environment Federation.
SOURCE Epcor Utilities Inc.
For more information, contact: Media Relations: Laura Ehrkamp, (780) 721-9001, [email protected]; Corporate Relations: Matt Lemay, (780) 412-3711, Toll Free 1-877-969-8280, [email protected]
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