By Cristal Cody
Tupelo, Miss., June 3 - AltaLink LP sold C$480 million of medium-term notes (/A-/DBRS: A) in a two-part offering on Tuesday, according to an informed source.
In the first tranche, the company sold C$350 million of 3.399% notes due June 6, 2024 at par to yield a spread of 105 basis points over the interpolated Government of Canada bond curve.
The second tranche of C$130 million of 4.274% 50-year bonds priced with a spread of 142 bps over the bond curve. The bonds due June 6, 2064 priced at par.
RBC Dominion Securities Inc., Scotia Capital Inc., and BMO Nesbitt Burns Inc. were the lead managers.
Calgary, Alta.-based AltaLink is an electric power transmission company.
| Issuer: | AltaLink LP
|
| Amount: | C$480 million
|
| Securities: | Medium-term notes
|
| Bookrunners: | RBC Dominion Securities Inc., Scotia Capital Inc. and BMO Nesbitt Burns Inc.
|
| Co-managers: | National Bank Financial Inc., TD Securities Inc. and Casgrain & Co. Ltd.
|
| Pricing date: | June 3
|
| Settlement date: | June 6
|
| Ratings: | Standard & Poor's: A-
|
| DBRS: A
|
| Distribution: | Canada
|
|
|
| Ten-year notes
|
| Amount: | C$350 million
|
| Maturity: | June 6, 2024
|
| Coupon: | 3.399%
|
| Price: | Par
|
| Yield: | 3.399%
|
| Spread: | 105 bps versus interpolated Government of Canada bond curve
|
|
|
| Fifty-year notes
|
| Amount: | C$130 million
|
| Maturity: | June 6, 2064
|
| Coupon: | 4.274%
|
| Price: | Par
|
| Yield: | 4.274%
|
| Spread: | 142 bps versus Government of Canada bond curve
|
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