InPower BC set to price C$297.7 million 19-year secured bonds Tuesday

By Cristal Cody

Tupelo, Miss., Feb. 24 - InPower BC General Partnership is expected to be in the primary market on Tuesday with a C$297.7 million offering of senior secured bonds, according to informed sources.

The company marketed the bonds due March 31, 2033 (DBRS: BBB) during a Feb. 11 to Feb. 13 roadshow in Toronto and Montreal.

National Bank Financial Inc. and Scotia Capital Inc. are the lead managers.

Proceeds from the offering will be used to fund construction costs.

InPower BC General Partnership is a special-purpose entity owned by SNC-Lavalin Capital Inc. that will design, build, finance and maintain a replacement hydroelectric plant on the Campbell River of Vancouver Island under a 19.75-year project agreement with the British Columbia Hydro & Power Authority.

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