City of Toronto completes secondary offering of Toronto Hydro debentures

/THIS PRESS RELEASE MAY NOT BE PUBLISHED, DISTRIBUTED OR TRANSMITTED IN OR INTO THE UNITED STATES OR OVER UNITED STATES WIRE OR NEWS SERVICES./

TORONTO, April 1 /CNW/ - Toronto Hydro Corporation announced today that the City of Toronto has completed a secondary offering of approximately $490.1 million aggregate principal amount of debentures of Toronto Hydro Corporation. The details of the secondary offering and the terms of the debentures are set out in a final prospectus dated March 25, 2010 which is available on the SEDAR website for Toronto Hydro Corporation at www.sedar.com.

RBC Dominion Securities Inc., CIBC World Markets Inc. and Scotia Capital Inc. acted as joint book runners in connection with the secondary offering.

Toronto Hydro Corporation did not receive any proceeds from the secondary offering.

The debentures have not been and will not be registered in the United States under the Securities Act of 1933, as amended, and may not be offered, sold or delivered in the United States or to U.S. Persons absent registration or applicable exemption from the registration requirements of such Act. This press release does not constitute an offer to sell or a solicitation to buy the debentures in the United States.

About Toronto Hydro

The Corporation is a holding company which through its principal subsidiaries:

    
    -   Toronto Hydro-Electric System Limited ("LDC") - distributes
        electricity and engages in Conservation and Demand Management
        activities; and

    -   Toronto Hydro Energy Services Inc. ("TH Energy") - provides street
        lighting services.
    

The principal business of the Corporation is the distribution of electricity by LDC. LDC owns and operates an electricity distribution system that delivers electricity to approximately 690,000 customers located in the City of Toronto.

SOURCE Toronto Hydro Corporation

For further information: For further information: Blair Peberdy, Vice-President, Marketing, Communications and Public Affairs: (416) 542-2515, bpeberdy@torontohydro.com; Pankaj Sardana, Vice-President, Treasurer and Regulatory Affairs: (416) 542-2707, psardana@torontohydro.com


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