/NOT FOR DISSEMINATION IN THE UNITED STATES OR TO U.S. NEWSWIRES/
MONTREAL, Oct. 8 /CNW Telbec/ - Gaz Métro inc. ("GMi") announced today
the offering of $150 million of 5.40% Series L First Mortgage Bonds (the
"Series L Bonds") guaranteed by Gaz Métro Limited Partnership ("Gaz Métro").
The Series L Bonds, bearing interest at the rate of 5.40% per annum, will
be dated October 14, 2008 and will mature on April 15, 2013. Standard & Poor's
Rating Services and DBRS Limited have each assigned an A rating to the
Series L Bonds. A prospectus supplement and a pricing supplement relating to
this issue have been filed today with the securities regulatory authorities in
each of the provinces and territories of Canada and will be available on the
SEDAR website at www.sedar.com under Gaz Métro inc.'s profile.
Proceeds from this issue will be loaned to Gaz Métro on substantially
similar terms as to interest rate and maturity as those of the Series L Bonds.
The proceeds will be added to Gaz Métro's general funds and will be used to
reimburse all outstanding 6.05% Series H First Mortgage Bonds of GMi of an
aggregate principal amount of $100,000,000 maturing on November 10, 2008 and a
portion of the borrowings under the revolving credit facility as well as for
general corporate purposes.
The Series L Bonds will be offered on an agency basis by a syndicate of
dealers led by BMO Nesbitt Burns Inc., and including Desjardins Securities
Inc., National Bank Financial Inc., Scotia Capital Inc., CIBC World Markets
Inc., RBC Dominion Securities Inc., TD Securities Inc., Laurentian Bank
Securities Inc. and Casgrain & Company Limited.
The Series L Bonds have not been and will not be registered under the
United States Securities Act of 1933, as amended, or any state securities
laws, and may not be offered, sold or delivered, directly or indirectly, in
the United States of America. This release does not constitute an offer to
sell or a solicitation to buy such securities in the United States.
Gaz Métro Overview
With more than $3.3 billion of assets and approximately 1,300 employees
in Quebec, Gaz Métro is a leading Quebec energy company and one of Canada's
largest natural gas distributors. Gaz Métro serves some 171,000 customers in
Quebec through an underground pipeline network of almost 10,000 km.
Through its wholly-owned subsidiary, Northern New England Energy
Corporation (NNEEC), Gaz Métro has been active in New England's energy
industry since 1986 and has about 300 employees there. NNEEC includes Vermont
Gas Systems, the sole natural gas distributor in Vermont, and Green Mountain
Power Corporation, the second largest electricity distributor in that State.
Through subsidiaries or in partnership with other investors, Gaz Métro is
active in natural gas transportation and storage as well as energy services
and water and waste water systems and fibre optic networks. Gaz Métro also
participates in various development projects in the energy sector.
For further information:
For further information: Investors and analysts: Caroline Warren,
Investor Relations, (514) 598-3324