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Lower Mattagami Energy to update investors, hold roadshow for next bond offering
By Cristal Cody
Prospect News, April 13 - Lower Mattagami Energy LP will update bond investors on Monday ahead of its next installment of a capital markets bond issuance program, a source said.
Following the investor update, the company is expected to hold a roadshow for a new offering.
CIBC World Markets Inc. and BMO Capital Markets Corp. are the managers.
Last year, Lower Mattagami Energy priced C$475 million in a two-part private placement sale of senior bonds (A2/DBRS: A) on May 12.
The company sold C$225 million of 4.331% series 2011-3 notes due May 18, 2021 at par, or a spread of 111.6 basis points over the Government of Canada benchmark, tighter than guidance of 114 bps.
In the second tranche, the company sold C$250 million of 5.139% series 2011-4 bonds due May 18, 2041 at par, or a spread of 152 bps over the government benchmark.
Lower Mattagami Energy announced last year that it plans a total of C$1.9 billion of project financing to fund the redevelopment and expansion of four hydroelectric generating stations on the lower part of the Mattagami River in northeastern Ontario.
The company, part of Ontario Power Generation Inc., is a hydroelectric generator located on the Mattagami River.
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