By Cristal Cody
Tupelo, Miss., June 26 – AltaLink, LP sold C$350 million of 4.09% 30-year medium-term notes at par, according to a company statement and AltaLink treasurer Chris Lomore.
The series 2015-1 notes due June 30, 2045 (/A-/DBRS: A) priced at a spread of 167 basis points over the Government of Canada bond curve.
Some information on the deal was previously reported.
Scotia Capital Inc., RBC Dominion Securities Inc. and BMO Nesbitt Burns Inc. were the bookrunners.
Proceeds from the deal will be used to repay a portion of AltaLink’s short-term debt, including debt outstanding under its commercial paper program.
Calgary, Alta.-based electricity transmission provider AltaLink is a subsidiary of Berkshire Hathaway Energy Co.
| Issuer: | AltaLink, LP
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| Amount: | C$350 million
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| Maturity: | June 30, 2045
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| Securities: | Medium-term notes
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| Bookrunners: | Scotia Capital Inc., RBC Dominion Securities Inc. and BMO Nesbitt Burns Inc.
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| Co-managers: | National Bank Financial Inc., TD Securities Inc. and Casgrain & Co. Ltd.
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| Coupon: | 4.09%
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| Price: | Par
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| Yield: | 4.09%
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| Spread: | 167 bps over Government of Canada bond curve
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| Pricing date: | June 25
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| Settlement date: | June 30
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| Ratings: | Standard & Poor’s: A-
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| DBRS: A
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| Distribution: | Canada
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