EPCOR Utilities Inc. completes C$300 million debt offering

EDMONTON, Feb. 28, 2012 /CNW/ - EPCOR Utilities Inc. (EPCOR) has completed a public offering in Canada of unsecured medium term note debentures in the aggregate principal amount of C$300 million.  The notes have a coupon of 4.55% and mature on February 28, 2042. The net proceeds of the offering will be used to repay EPCOR's commercial paper indebtedness and for general corporate purposes.

These debt securities are rated A (low) by DBRS Limited and BBB+ by Standard and Poor's Ratings Services.

The offering was made in Canada under EPCOR's previously filed short form base shelf prospectus dated December 1, 2011. BMO Capital Markets and RBC Capital Markets acted as co-leads and joint bookrunners for the offering.

About EPCOR Utilities Inc.

EPCOR's wholly owned subsidiaries build, own and operate electrical transmission and distribution networks, water and wastewater treatment facilities and infrastructure in Canada and the United States. EPCOR, headquartered in Edmonton, Alberta, is an Alberta Top 50 employer. EPCOR's website is www.epcor.ca

Forward-looking Information

Certain information in this press release is forward-looking and related to anticipated financial performance, events and strategies. When used in this context, words such as "will", "anticipate", "believe", "plan", "intend", "target", "expect" or similar words suggest future outcomes. By their nature, such statements are subject to significant risks and uncertainties, which could cause EPCOR's actual results and experience to be materially different than the anticipated results. Such risks and uncertainties include, but are not limited to, operating performance, commodity prices and volumes, load settlement, regulatory and government decisions including changes to environmental and tax legislation, weather and economic conditions, competitive pressures, construction risks, availability and cost of financing, foreign exchange risks, availability of labour and management resources and the performance of partners, contractors and suppliers.

Readers are cautioned not to place undue reliance on forward-looking statements as actual results could differ materially from the plans, expectations, estimates or intentions expressed in the forward-looking statements. Except as required by law, EPCOR disclaims any intention and assumes no obligation to update any forward-looking statement even if new information becomes available, as a result of future events or for any other reason.

SOURCE EPCOR Utilities Inc.

For further information:

Tim le Riche
Specialist, External Communications
EPCOR
780-969-8238
Cell 780-721-2013
tleriche@epcor.ca

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EPCOR Utilities Inc.

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