By Cristal Cody
Tupelo, Miss., Nov. 5 – AltaLink LP priced C$295 million of 4.054% 30-year series 2014-3 medium-term notes at par on Wednesday, according to the company and a spokesman.
The notes (/A-/DBRS: A) priced with a spread of 145 basis points over the Government of Canada benchmark.
Scotia Capital Inc., RBC Dominion Securities Inc. and BMO Nesbitt Burns Inc. were the bookrunners.
The notes are secured by a first floating charge security interest in the present and future property and assets of AltaLink.
The Calgary, Alta.-based electric power transmission company plans to use the proceeds to repay outstanding short-term debt and for general corporate purposes.
| Issuer: | AltaLink LP
|
| Amount: | C$295 million
|
| Maturity: | Nov. 21, 2044
|
| Securities: | Medium-term notes
|
| Bookrunners: | Scotia Capital Inc., RBC Dominion Securities Inc. and BMO Nesbitt Burns Inc.
|
| Co-managers: | National Bank Financial Inc., TD Securities Inc. and Casgrain & Co. Ltd.
|
| Coupon: | 4.054%
|
| Price: | Par
|
| Yield: | 4.054%
|
| Spread: | 145 bps over Government of Canada benchmark
|
| Pricing date: | Nov. 5
|
| Settlement date: | Nov. 21
|
| Ratings: | Standard & Poor’s: A-
|
| DBRS: A
|
| Distribution: | Canada
|
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.
