By Cristal Cody
Eureka Springs, Ark., Oct. 4 – Lower Mattagami Energy LP sold C$220 million of 2.307% 10-year senior secured bonds with a spread of 124 basis points over the interpolated Government of Canada bond curve in a private placement on Tuesday, according to a market source.
The series 2016-1 bonds (A2/DBRS: A) priced with a long first coupon at 99.999 to yield 2.307%.
BMO Nesbitt Burns Inc. and CIBC World Markets Inc. were the lead managers.
Proceeds will be used to repay the partnership’s outstanding commercial paper as it matures.
Lower Mattagami Energy, a partnership of Ontario Power Generation Inc. and LM Energy Inc., operates hydroelectric generators on the Mattagami River in northern Ontario.
| Issuer: | Lower Mattagami Energy LP
|
| Amount: | C$220 million
|
| Maturity: | Oct. 21, 2026
|
| Securities: | Senior secured bonds
|
| Bookrunners: | BMO Nesbitt Burns Inc., CIBC World Markets Inc.
|
| Coupon: | 2.307%
|
| Price: | 99.999
|
| Yield: | 2.307%
|
| Spread: | 124 bps over interpolated Government of Canada bond curve
|
| Pricing date: | Oct. 4
|
| Settlement date: | Oct. 7
|
| Ratings: | Moody’s: A2
|
| DBRS: A
|
| Distribution: | Canada private placement
|
© 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.
