By Cristal Cody
Tupelo, Miss., July 10 - AltaLink, LP sold C$250 million of 4.446% 40-year medium-term notes at par, an informed source said on Wednesday.
The series 2013-1 notes due July 11, 2053 (/A-/DBRS: A) priced at a spread of 150 basis points over the Government of Canada benchmark.
RBC Dominion Securities Inc., BMO Nesbitt Burns Inc. and Scotia Capital Inc. were the lead managers. Co-managers were National Bank Financial Inc., TD Securities Inc. and Casgrain & Co. Ltd.
The Calgary, Alta.-based electric utility plans to use the proceeds to repay outstanding commercial paper.
| Issuer: | AltaLink, LP
|
| Amount: | C$250 million
|
| Maturity: | July 11, 2053
|
| Securities: | Medium-term notes
|
| Bookrunners: | RBC Dominion Securities Inc., BMO Nesbitt Burns Inc. and Scotia Capital Inc.
|
| Co-managers: | National Bank Financial Inc., TD Securities Inc. and Casgrain & Co. Ltd.
|
| Coupon: | 4.446%
|
| Price: | Par
|
| Yield: | 4.446%
|
| Spread: | 150 bps over Government of Canada benchmark
|
| Pricing date: | July 9
|
| Settlement date: | July 12
|
| Ratings: | Standard & Poor's: A-
|
| DBRS: | A
|
| Distribution: | Canada
|
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