By Cristal Cody
Tupelo, Miss., Sept. 13 - AltaLink, LP priced C$475 million of seven-year and 30-year medium-term notes (/A-/DBRS: A), according to the company and informed market sources on Friday.
AltaLink sold C$125 million of 3.621% seven-year series 2013-2 notes at par to yield 118.8 basis points over the Government of Canada benchmark.
The company also priced C$350 million of 4.922% 30-year series 2013-3 notes at par to yield a spread of 165 bps over the government benchmark.
Scotia Capital Inc., RBC Dominion Securities Inc. and BMO Nesbitt Burns Inc. were the lead managers on the seven-year tranche of notes.
RBC, BMO and Scotia led the syndicate on the long bond offering.
The Calgary, Alta.-based electric power transmission company plans to use the proceeds to repay outstanding short-term debt and fund the expansion of its electric transmission network in Alberta.
| Issuer: | AltaLink, LP
|
| Amount: | C$475 million
|
| Securities: | Medium-term notes
|
| Bookrunners: | Scotia Capital Inc., RBC Dominion Securities Inc., BMO Nesbitt Burns Inc.
|
| Co-managers: | National Bank Financial Inc., TD Securities Inc., Casgrain & Co. Ltd.
|
| Pricing date: | Sept. 12
|
| Settlement date: | Sept. 17
|
| Ratings: | Standard & Poor's: A-
|
| DBRS: A
|
| Distribution: | Canada
|
|
|
| Series 2013-2
|
| Amount: | C$125 million
|
| Maturity: | Sept. 17, 2020
|
| Coupon: | 3.621%
|
| Price: | Par
|
| Yield: | 3.621%
|
| Spread: | 118.8 bps over Government of Canada benchmark
|
|
|
| Series 2013-3
|
| Amount: | C$350 million
|
| Maturity: | Sept. 17. 2043
|
| Coupon: | 4.922%
|
| Price: | Par
|
| Yield: | 4.922%
|
| Spread: | 165 bps over Government of Canada benchmark
|
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